Contravisory Investment Management Inc. increased its position in shares of Sealed Air Co. (NYSE:SEE) by 9,441.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,725 shares of the industrial products company’s stock after purchasing an additional 5,665 shares during the period. Contravisory Investment Management Inc.’s holdings in Sealed Air were worth $262,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NuWave Investment Management LLC lifted its holdings in shares of Sealed Air by 2,822.7% in the third quarter. NuWave Investment Management LLC now owns 643 shares of the industrial products company’s stock valued at $25,000 after buying an additional 621 shares during the period. CI Investments Inc. acquired a new stake in Sealed Air in the 3rd quarter valued at about $34,000. Nachman Norwood & Parrott Inc acquired a new stake in Sealed Air in the 3rd quarter valued at about $37,000. Glenmede Trust Co. NA lifted its holdings in Sealed Air by 154.2% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,543 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 936 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in Sealed Air by 31.7% in the 3rd quarter. Harbor Investment Advisory LLC now owns 2,002 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 482 shares during the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on SEE. Seaport Global Securities started coverage on shares of Sealed Air in a report on Wednesday, October 14th. They issued a “neutral” rating for the company. BidaskClub cut shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Tuesday, December 15th. TheStreet upgraded shares of Sealed Air from a “c” rating to a “b-” rating in a research report on Wednesday, October 28th. Smith Barney Citigroup raised shares of Sealed Air from a “neutral” rating to a “buy” rating in a research report on Thursday, January 7th. Finally, Morgan Stanley boosted their price target on Sealed Air from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.92.
Sealed Air (NYSE:SEE) last released its earnings results on Monday, November 2nd. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.66 by $0.16. Sealed Air had a negative return on equity of 240.81% and a net margin of 8.24%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.20 billion. As a group, sell-side analysts predict that Sealed Air Co. will post 2.93 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 18th. Investors of record on Friday, December 4th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, December 3rd. This represents a $0.64 annualized dividend and a yield of 1.41%. Sealed Air’s dividend payout ratio is currently 22.70%.
In other Sealed Air news, SVP Karl R. Deily sold 9,250 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $40.14, for a total value of $371,295.00. Following the completion of the sale, the senior vice president now owns 158,107 shares of the company’s stock, valued at $6,346,414.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Emile Z. Chammas sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $43.16, for a total value of $1,294,800.00. Following the completion of the sale, the senior vice president now directly owns 182,261 shares of the company’s stock, valued at approximately $7,866,384.76. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.
Sealed Air Profile
Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials, equipment, and automation solutions to provide food safety and shelf life extension, and reduce resource use for perishable food processors in the 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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