Stoneridge Investment Partners LLC Has $2,226,000 Stake in Sealed Air Corp. (SEE)
Stoneridge Investment Partners LLC lowered its position in shares of Sealed Air Corp. (NYSE:SEE) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,420 shares of the company’s stock after selling 815 shares during the period. Stoneridge Investment Partners LLC’s holdings in Sealed Air Corp. were worth $2,226,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Anchor Bolt Capital LP increased its stake in Sealed Air Corp. by 109.5% in the first quarter. Anchor Bolt Capital LP now owns 1,466,166 shares of the company’s stock worth $70,391,000 after buying an additional 766,446 shares in the last quarter. Renaissance Technologies LLC increased its stake in Sealed Air Corp. by 29.6% in the first quarter. Renaissance Technologies LLC now owns 1,333,100 shares of the company’s stock worth $64,002,000 after buying an additional 304,400 shares in the last quarter. IBM Retirement Fund increased its stake in Sealed Air Corp. by 0.3% in the second quarter. IBM Retirement Fund now owns 23,279 shares of the company’s stock worth $1,117,000 after buying an additional 76 shares in the last quarter. National Pension Service increased its stake in Sealed Air Corp. by 4.5% in the first quarter. National Pension Service now owns 144,614 shares of the company’s stock worth $6,943,000 after buying an additional 6,266 shares in the last quarter. Finally, DNB Asset Management AS purchased a new stake in Sealed Air Corp. during the second quarter worth $486,000. 89.21% of the stock is owned by institutional investors and hedge funds.
Shares of Sealed Air Corp. (NYSE:SEE) traded down 0.26% during trading on Wednesday, reaching $46.16. The company’s stock had a trading volume of 1,484,727 shares. The firm has a market cap of $9.08 billion, a P/E ratio of 26.32 and a beta of 1.23. The stock’s 50 day moving average is $46.74 and its 200 day moving average is $47.43. Sealed Air Corp. has a one year low of $38.02 and a one year high of $52.83.
Sealed Air Corp. (NYSE:SEE) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, equities analysts forecast that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.39%. Sealed Air Corp.’s dividend payout ratio is currently 36.57%.
A number of analysts have weighed in on SEE shares. JPMorgan Chase & Co. started coverage on shares of Sealed Air Corp. in a research report on Tuesday, September 13th. They set a “neutral” rating and a $53.00 target price for the company. Credit Suisse Group AG reissued an “outperform” rating and set a $59.00 target price on shares of Sealed Air Corp. in a research report on Thursday, September 8th. Zacks Investment Research downgraded shares of Sealed Air Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $59.00 target price on shares of Sealed Air Corp. in a research report on Wednesday, June 1st. Finally, SunTrust Banks Inc. initiated coverage on shares of Sealed Air Corp. in a research report on Tuesday, July 12th. They set a “buy” rating and a $54.00 target price for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Sealed Air Corp. presently has an average rating of “Buy” and an average target price of $53.42.
Sealed Air Corp. Company Profile
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing processors, retailers and food service operators a range of integrated system solutions.
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