CIBC Asset Management Inc lessened its stake in shares of Sealed Air Corp (NYSE:SEE) by 20.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,589 shares of the industrial products company’s stock after selling 4,885 shares during the quarter. CIBC Asset Management Inc’s holdings in Sealed Air were worth $838,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. acquired a new position in Sealed Air in the 1st quarter valued at $88,000. Pictet Asset Management Ltd. boosted its stake in Sealed Air by 16.8% in the 1st quarter. Pictet Asset Management Ltd. now owns 279,809 shares of the industrial products company’s stock worth $12,888,000 after buying an additional 40,188 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Sealed Air by 36.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 39,005 shares of the industrial products company’s stock worth $1,796,000 after buying an additional 10,396 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Sealed Air by 141.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 40,160 shares of the industrial products company’s stock valued at $1,718,000 after buying an additional 23,497 shares during the period. Finally, CWM Advisors LLC increased its stake in shares of Sealed Air by 19.8% during the 2nd quarter. CWM Advisors LLC now owns 11,986 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 1,982 shares during the last quarter. 97.47% of the stock is owned by institutional investors.
SEE opened at $42.42 on Wednesday. The company has a market cap of $6.22 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.42 and a beta of 1.08. Sealed Air Corp has a 1 year low of $30.22 and a 1 year high of $47.13. The firm has a 50 day moving average price of $42.25 and a 200 day moving average price of $43.68.
Sealed Air (NYSE:SEE) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.16. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Sealed Air had a net margin of 7.84% and a negative return on equity of 121.14%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, analysts expect that Sealed Air Corp will post 2.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.16 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.64 annualized dividend and a yield of 1.51%. Sealed Air’s dividend payout ratio is currently 25.60%.
SEE has been the topic of several research analyst reports. ValuEngine cut shares of Sealed Air from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Bank of America downgraded shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price target on the stock. in a research note on Friday, June 21st. Wells Fargo & Co lifted their price target on shares of Sealed Air from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. Finally, KeyCorp reissued a “sell” rating and set a $39.00 price objective on shares of Sealed Air in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Sealed Air has a consensus rating of “Hold” and an average target price of $42.69.
Sealed Air 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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