Rampart Investment Management Company LLC lifted its holdings in shares of Sealed Air Corp (NYSE:SEE) by 165.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,775 shares of the industrial products company’s stock after purchasing an additional 2,354 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Sealed Air were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SEE. Motco purchased a new position in shares of Sealed Air during the 2nd quarter worth $29,000. Thor Advisors LLC purchased a new position in shares of Sealed Air during the 1st quarter worth $78,000. Rockefeller Capital Management L.P. purchased a new position in shares of Sealed Air during the 1st quarter worth $88,000. NumerixS Investment Technologies Inc purchased a new position in shares of Sealed Air during the 1st quarter worth $90,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sealed Air by 88.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,216 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 1,037 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.
A number of equities analysts have recently weighed in on SEE shares. KeyCorp reiterated a “sell” rating and set a $39.00 price target on shares of Sealed Air in a report on Friday, August 2nd. Wells Fargo & Co increased their price target on Sealed Air from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. ValuEngine cut Sealed Air from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, Bank of America cut Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price target for the company. in a report on Friday, June 21st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $42.69.
Sealed Air stock traded down $0.05 during midday trading on Friday, reaching $41.26. 748,454 shares of the stock traded hands, compared to its average volume of 1,532,046. The company has a 50-day simple moving average of $41.93 and a two-hundred day simple moving average of $43.59. Sealed Air Corp has a 12-month low of $30.22 and a 12-month high of $47.13. The firm has a market cap of $6.43 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.08.
Sealed Air (NYSE:SEE) last announced its earnings results on Friday, August 2nd. The industrial products company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business posted $0.64 EPS. Sealed Air’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts expect that Sealed Air Corp will post 2.78 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, September 5th. Sealed Air’s dividend payout ratio (DPR) is 25.60%.
About Sealed Air
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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