PNC Financial Services Group Inc. Sells 7,724 Shares of Sealed Air Corporation (SEE)
PNC Financial Services Group Inc. decreased its stake in Sealed Air Corporation (NYSE:SEE) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,311 shares of the industrial products company’s stock after selling 7,724 shares during the period. PNC Financial Services Group Inc.’s holdings in Sealed Air Corporation were worth $2,654,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in SEE. Fiduciary Trust Co. bought a new stake in shares of Sealed Air Corporation in the 2nd quarter worth approximately $124,000. Global X Management Co. LLC lifted its holdings in shares of Sealed Air Corporation by 30.4% in the 1st quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 687 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Sealed Air Corporation by 3.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,979 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 116 shares during the last quarter. FNY Partners Fund LP bought a new stake in shares of Sealed Air Corporation in the 1st quarter worth approximately $196,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Sealed Air Corporation in the 2nd quarter worth approximately $201,000. 92.12% of the stock is currently owned by institutional investors and hedge funds.
Sealed Air Corporation (SEE) opened at 42.72 on Friday. The firm has a market capitalization of $8.12 billion, a PE ratio of 22.08 and a beta of 1.19. Sealed Air Corporation has a 12 month low of $41.22 and a 12 month high of $50.62. The stock’s 50 day moving average price is $44.13 and its 200 day moving average price is $44.40.
Sealed Air Corporation (NYSE:SEE) last posted its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Sealed Air Corporation will post $1.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.50%. The ex-dividend date was Wednesday, August 30th. Sealed Air Corporation’s dividend payout ratio is 33.16%.
SEE has been the topic of several recent research reports. BidaskClub raised Sealed Air Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Robert W. Baird reaffirmed a “buy” rating and set a $55.00 target price on shares of Sealed Air Corporation in a research note on Friday, September 1st. SunTrust Banks, Inc. set a $48.00 target price on Sealed Air Corporation and gave the company a “buy” rating in a research note on Sunday, September 10th. Bank of America Corporation raised Sealed Air Corporation from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Thursday, September 21st. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $45.00 target price on shares of Sealed Air Corporation in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $48.33.
In other Sealed Air Corporation news, Director Lawrence R. Codey sold 3,500 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $42.91, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.05% of the stock is currently owned by corporate insiders.
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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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