Bank of America Corp DE cut its holdings in shares of Sealed Air Corp (NYSE:SEE) by 19.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,266,788 shares of the industrial products company’s stock after selling 298,262 shares during the period. Bank of America Corp DE owned about 0.81% of Sealed Air worth $41,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Private Capital Group LLC raised its position in shares of Sealed Air by 12.4% in the second quarter. Private Capital Group LLC now owns 2,338 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 258 shares during the period. CSat Investment Advisory L.P. raised its position in shares of Sealed Air by 7.8% in the second quarter. CSat Investment Advisory L.P. now owns 3,563 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 259 shares during the period. American International Group Inc. raised its position in shares of Sealed Air by 0.7% in the second quarter. American International Group Inc. now owns 53,040 shares of the industrial products company’s stock worth $1,742,000 after acquiring an additional 394 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in shares of Sealed Air by 2.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 15,799 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 428 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Sealed Air by 1.2% in the second quarter. Arizona State Retirement System now owns 35,993 shares of the industrial products company’s stock worth $1,182,000 after acquiring an additional 435 shares during the period. Institutional investors own 91.55% of the company’s stock.

Shares of NYSE SEE opened at $38.61 on Wednesday. Sealed Air Corp has a 12-month low of $17.06 and a 12-month high of $42.74. The stock has a market cap of $6.01 billion, a PE ratio of 15.02, a P/E/G ratio of 2.08 and a beta of 1.24. The company has a 50-day moving average of $39.59 and a 200 day moving average of $32.47.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.22. Sealed Air had a net margin of 8.24% and a negative return on equity of 240.81%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company earned $0.80 EPS. Sealed Air’s revenue was down .8% compared to the same quarter last year. On average, research analysts anticipate that Sealed Air Corp will post 2.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.64 annualized dividend and a yield of 1.66%. Sealed Air’s dividend payout ratio is presently 22.70%.

SEE has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on shares of Sealed Air from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. They noted that the move was a valuation call. G.Research reissued a “buy” rating on shares of Sealed Air in a research note on Monday, August 10th. Citigroup boosted their target price on shares of Sealed Air from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. ValuEngine cut shares of Sealed Air from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Finally, Jefferies Financial Group assumed coverage on shares of Sealed Air in a research note on Monday, July 13th. They set a “buy” rating and a $39.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Sealed Air has an average rating of “Hold” and a consensus target price of $38.10.

In other Sealed Air news, SVP Karl R. Deily sold 9,239 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $40.18, for a total value of $371,223.02. Following the transaction, the senior vice president now directly owns 176,596 shares in the company, valued at approximately $7,095,627.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karl R. Deily sold 63,349 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $40.00, for a total transaction of $2,533,960.00. Following the completion of the transaction, the senior vice president now owns 196,398 shares in the company, valued at $7,855,920. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Sealed Air Profile

Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, 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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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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