American International Group Inc. reduced its holdings in shares of Sealed Air Corporation (NYSE:SEE) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,483 shares of the industrial products company’s stock after selling 11,084 shares during the period. American International Group Inc.’s holdings in Sealed Air were worth $2,926,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SEE. Fiduciary Trust Co. acquired a new stake in Sealed Air during the 2nd quarter worth about $124,000. Massey Quick Simon & CO. LLC acquired a new stake in Sealed Air during the 3rd quarter worth about $140,000. Global X Management Co. LLC grew its holdings in Sealed Air by 23.7% during the 2nd quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 699 shares during the period. Pacer Advisors Inc. grew its holdings in Sealed Air by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 322 shares during the period. Finally, King Luther Capital Management Corp acquired a new stake in Sealed Air during the 2nd quarter worth about $205,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.
In related news, Director Lawrence R. Codey sold 3,500 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.91, for a total value of $150,185.00. Following the transaction, the director now owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Emile Z. Chammas sold 6,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $45.24, for a total transaction of $271,440.00. Following the completion of the transaction, the senior vice president now directly owns 142,077 shares in the company, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
Several analysts have recently commented on the company. Robert W. Baird restated a “buy” rating and issued a $55.00 target price on shares of Sealed Air in a research note on Friday, September 1st. Jefferies Group restated a “hold” rating and issued a $44.00 target price on shares of Sealed Air in a research note on Friday, August 11th. TheStreet upgraded Sealed Air from a “c+” rating to a “b-” rating in a research note on Thursday, November 30th. Royal Bank Of Canada restated a “hold” rating and issued a $45.00 target price on shares of Sealed Air in a research note on Wednesday, September 13th. Finally, Bank of America upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.83.
Shares of Sealed Air Corporation (NYSE:SEE) traded down $0.17 during midday trading on Friday, reaching $47.79. 2,368,079 shares of the company traded hands, compared to its average volume of 2,311,226. Sealed Air Corporation has a twelve month low of $41.22 and a twelve month high of $50.62. The company has a market cap of $8,651.33, a PE ratio of 23.98, a price-to-earnings-growth ratio of 6.65 and a beta of 1.23. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.34 and a current ratio of 1.70.
Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Sealed Air had a net margin of 20.15% and a return on equity of 67.60%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. equities analysts predict that Sealed Air Corporation will post 1.8 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.34%. Sealed Air’s payout ratio is 12.19%.
About Sealed Air
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
Receive News & Ratings for Sealed Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air Corporation and related companies with MarketBeat.com's FREE daily email newsletter.