Public Employees Retirement Association of Colorado lowered its position in Sealed Air Corp (NYSE:SEE) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,751 shares of the industrial products company’s stock after selling 10,135 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.21% of Sealed Air worth $14,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in Sealed Air by 1.7% in the second quarter. Janus Henderson Group PLC now owns 8,347,252 shares of the industrial products company’s stock worth $357,096,000 after purchasing an additional 143,411 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in Sealed Air by 1.0% in the second quarter. Royal London Asset Management Ltd. now owns 59,937 shares of the industrial products company’s stock worth $2,565,000 after purchasing an additional 598 shares in the last quarter. Aperio Group LLC raised its holdings in Sealed Air by 1.7% in the second quarter. Aperio Group LLC now owns 64,135 shares of the industrial products company’s stock worth $2,743,000 after purchasing an additional 1,064 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Sealed Air by 1.8% in the second quarter. BNP Paribas Arbitrage SA now owns 1,461,275 shares of the industrial products company’s stock worth $62,513,000 after purchasing an additional 25,990 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in Sealed Air in the second quarter worth $3,762,000. 98.53% of the stock is owned by institutional investors and hedge funds.
Sealed Air stock opened at $42.93 on Thursday. Sealed Air Corp has a one year low of $30.22 and a one year high of $47.13. The stock has a market capitalization of $6.90 billion, a PE ratio of 17.17, a PEG ratio of 1.87 and a beta of 1.10. The firm’s fifty day simple moving average is $43.65.
Sealed Air (NYSE:SEE) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.64 by $0.16. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm posted $0.64 earnings per share. Sealed Air’s revenue was up .5% compared to the same quarter last year. Equities analysts expect that Sealed Air Corp will post 2.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.64 annualized dividend and a dividend yield of 1.49%. Sealed Air’s dividend payout ratio (DPR) is presently 25.60%.
SEE has been the subject of a number of research reports. Bank of America downgraded Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price objective for the company. in a report on Friday, June 21st. Morgan Stanley set a $44.00 price objective on Sealed Air and gave the stock a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Co increased their price objective on Sealed Air from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. Finally, KeyCorp reiterated a “sell” rating and issued a $39.00 price objective on shares of Sealed Air in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.69.
Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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