King Luther Capital Management Corp Takes Position in Sealed Air Corporation (SEE)
King Luther Capital Management Corp bought a new position in Sealed Air Corporation (NYSE:SEE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,579 shares of the industrial products company’s stock, valued at approximately $205,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SEE. First Trust Advisors LP bought a new stake in shares of Sealed Air Corporation in the 1st quarter worth about $3,450,000. American Century Companies Inc. increased its position in shares of Sealed Air Corporation by 4.1% in the 1st quarter. American Century Companies Inc. now owns 115,534 shares of the industrial products company’s stock worth $5,035,000 after purchasing an additional 4,586 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Sealed Air Corporation by 7.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 491,244 shares of the industrial products company’s stock worth $21,408,000 after purchasing an additional 35,488 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Sealed Air Corporation in the 1st quarter worth about $2,458,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Sealed Air Corporation by 29.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,352 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 3,271 shares during the last quarter. 92.12% of the stock is owned by institutional investors.
In related news, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.91, for a total transaction of $150,185.00. Following the completion of the sale, the director now owns 38,180 shares in the company, valued at approximately $1,638,303.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.
Sealed Air Corporation (NYSE:SEE) opened at 42.44 on Friday. The firm’s 50-day moving average is $44.13 and its 200-day moving average is $44.40. Sealed Air Corporation has a 1-year low of $41.22 and a 1-year high of $50.62. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 21.93 and a beta of 1.19.
Sealed Air Corporation (NYSE:SEE) last announced its earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. On average, equities analysts anticipate that Sealed Air Corporation will post $1.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Wednesday, August 30th. Sealed Air Corporation’s dividend payout ratio (DPR) is currently 33.16%.
Several research firms have recently commented on SEE. SunTrust Banks, Inc. set a $48.00 price target on shares of Sealed Air Corporation and gave the company a “buy” rating in a report on Sunday, September 10th. Zacks Investment Research lowered shares of Sealed Air Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub lowered shares of Sealed Air Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price target on shares of Sealed Air Corporation in a report on Sunday, August 27th. Finally, Citigroup Inc. lowered shares of Sealed Air Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the company from $52.00 to $47.00 in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Sealed Air Corporation presently has an average rating of “Hold” and an average target price of $48.33.
Sealed Air Corporation 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 (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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