Sealed Air Corporation (SEE) Position Increased by Victory Capital Management Inc.
Victory Capital Management Inc. increased its position in shares of Sealed Air Corporation (NYSE:SEE) by 73.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,786 shares of the industrial products company’s stock after buying an additional 14,731 shares during the period. Victory Capital Management Inc.’s holdings in Sealed Air Corporation were worth $1,516,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEE. Russell Investments Group Ltd. bought a new position in Sealed Air Corporation during the fourth quarter worth about $2,905,000. Cipher Capital LP raised its position in Sealed Air Corporation by 343.6% in the fourth quarter. Cipher Capital LP now owns 31,237 shares of the industrial products company’s stock worth $1,416,000 after buying an additional 24,195 shares during the last quarter. State Street Corp raised its position in Sealed Air Corporation by 6.1% in the fourth quarter. State Street Corp now owns 8,773,022 shares of the industrial products company’s stock worth $397,771,000 after buying an additional 501,800 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Sealed Air Corporation by 5.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,876 shares of the industrial products company’s stock worth $674,000 after buying an additional 773 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in Sealed Air Corporation during the fourth quarter worth about $268,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.
Sealed Air Corporation (NYSE:SEE) opened at 45.03 on Friday. Sealed Air Corporation has a one year low of $41.74 and a one year high of $50.62. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 25.88 and a beta of 1.13. The company’s 50-day moving average price is $44.20 and its 200-day moving average price is $45.79.
Sealed Air Corporation (NYSE:SEE) last posted its earnings results on Tuesday, May 9th. The industrial products company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by $0.03. Sealed Air Corporation had a net margin of 5.48% and a return on equity of 85.72%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Sealed Air Corporation will post $1.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, May 31st. Sealed Air Corporation’s dividend payout ratio is currently 36.99%.
SEE has been the topic of a number of recent research reports. KeyCorp reissued a “hold” rating on shares of Sealed Air Corporation in a report on Friday, February 24th. Jefferies Group LLC reissued a “neutral” rating and issued a $45.00 target price on shares of Sealed Air Corporation in a report on Wednesday, March 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 target price on shares of Sealed Air Corporation in a report on Tuesday, March 21st. BMO Capital Markets reissued a “hold” rating and issued a $45.00 target price (down previously from $50.00) on shares of Sealed Air Corporation in a report on Tuesday, March 28th. Finally, Goldman Sachs Group, Inc. (The) lowered Sealed Air Corporation from a “conviction-buy” rating to a “buy” rating and dropped their target price for the company from $53.00 to $50.00 in a report on Tuesday, April 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Sealed Air Corporation presently has an average rating of “Hold” and a consensus price target of $49.09.
In other Sealed Air Corporation news, insider Jerome A. Peribere bought 6,960 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average cost of $42.97 per share, for a total transaction of $299,071.20. Following the transaction, the insider now directly owns 199,000 shares in the company, valued at $8,551,030. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William G. Stiehl sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $43.43, for a total value of $130,290.00. Following the completion of the sale, the chief accounting officer now owns 37,797 shares in the company, valued at $1,641,523.71. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.
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, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing a range of integrated system solutions.
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