Sealed Air Corporation (SEE) Shares Sold by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. lessened its holdings in shares of Sealed Air Corporation (NYSE:SEE) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,637 shares of the industrial products company’s stock after selling 2,954 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.07% of Sealed Air worth $7,119,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in SEE. Janus Henderson Group PLC lifted its holdings in Sealed Air by 46,138.7% in the 2nd quarter. Janus Henderson Group PLC now owns 10,600,215 shares of the industrial products company’s stock worth $474,465,000 after purchasing an additional 10,577,290 shares during the last quarter. Ameriprise Financial Inc. increased its position in Sealed Air by 199.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,592,978 shares of the industrial products company’s stock worth $205,703,000 after buying an additional 3,059,792 shares during the period. Wells Fargo & Company MN increased its position in Sealed Air by 245.4% in the 2nd quarter. Wells Fargo & Company MN now owns 4,191,343 shares of the industrial products company’s stock worth $187,604,000 after buying an additional 2,977,854 shares during the period. Jennison Associates LLC increased its position in Sealed Air by 91.6% in the 2nd quarter. Jennison Associates LLC now owns 3,378,121 shares of the industrial products company’s stock worth $151,205,000 after buying an additional 1,614,619 shares during the period. Finally, Eaton Vance Management increased its position in Sealed Air by 150.1% in the 2nd quarter. Eaton Vance Management now owns 2,624,092 shares of the industrial products company’s stock worth $117,454,000 after buying an additional 1,575,006 shares during the period. 93.09% of the stock is currently owned by institutional investors.
In other Sealed Air news, SVP Emile Z. Chammas sold 6,000 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $271,440.00. Following the transaction, the senior vice president now owns 142,077 shares of the company’s stock, valued at $6,427,563.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $150,185.00. Following the completion of the transaction, the director now directly owns 38,180 shares in the company, valued at approximately $1,638,303.80. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.
Sealed Air Corporation (NYSE SEE) traded up $0.65 during trading on Friday, reaching $48.68. The company’s stock had a trading volume of 3,952,248 shares, compared to its average volume of 2,393,670. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 4.23. The firm has a market capitalization of $8,665.76, a price-to-earnings ratio of 24.02, a P/E/G ratio of 6.66 and a beta of 1.23. Sealed Air Corporation has a one year low of $41.22 and a one year high of $50.62.
Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. equities analysts forecast that Sealed Air Corporation will post 1.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, November 30th. Sealed Air’s dividend payout ratio is currently 12.19%.
SEE has been the topic of several recent analyst reports. Bank of America set a $50.00 price target on Sealed Air and gave the stock a “buy” rating in a research report on Friday, October 13th. Robert W. Baird restated a “buy” rating and set a $55.00 price objective on shares of Sealed Air in a research report on Friday, September 1st. BMO Capital Markets restated a “hold” rating and set a $47.00 price objective on shares of Sealed Air in a research report on Sunday, August 27th. Zacks Investment Research cut Sealed Air from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, Citigroup cut Sealed Air from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $47.00 in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $49.42.
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Sealed Air 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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