First Trust Advisors LP Takes $304,000 Position in Sealed Air Corporation (SEE)
First Trust Advisors LP purchased a new position in Sealed Air Corporation (NYSE:SEE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,110 shares of the industrial products company’s stock, valued at approximately $304,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Trust Co. bought a new position in shares of Sealed Air in the second quarter worth $124,000. Global X Management Co. LLC increased its holdings in shares of Sealed Air by 23.7% in the second quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 699 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Sealed Air by 8.1% in the second quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 322 shares during the period. King Luther Capital Management Corp bought a new position in shares of Sealed Air in the second quarter worth $205,000. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Sealed Air by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 4,772 shares of the industrial products company’s stock worth $213,000 after purchasing an additional 70 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.
Sealed Air Corporation (NYSE SEE) traded down $0.02 during midday trading on Tuesday, reaching $47.77. 2,063,800 shares of the company’s stock traded hands, compared to its average volume of 2,188,937. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 4.23. Sealed Air Corporation has a twelve month low of $41.22 and a twelve month high of $50.62. The stock has a market capitalization of $8,620.67, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 6.62 and a beta of 1.23.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, meeting the 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 during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. equities analysts expect that Sealed Air Corporation will post 1.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.16 per share. 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%.
Several research analysts have recently weighed in on SEE shares. Bank of America set a $50.00 price target on shares of Sealed Air and gave the stock a “buy” rating in a report on Friday, October 13th. Robert W. Baird reiterated a “buy” rating and issued a $55.00 target price on shares of Sealed Air in a research report on Friday, September 1st. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 target price on shares of Sealed Air in a research report on Sunday, August 27th. Zacks Investment Research lowered shares of Sealed Air from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, Citigroup lowered shares of Sealed Air from a “buy” rating to a “neutral” rating and cut their target price for the stock from $52.00 to $47.00 in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $48.83.
In other news, SVP Emile Z. Chammas sold 6,000 shares of the 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 sale, the senior vice president now directly owns 142,077 shares in the company, valued at $6,427,563.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total transaction of $150,185.00. Following the sale, the director now owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
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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.
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