Stoneridge Investment Partners LLC Lowers Stake in Sealed Air Corporation (SEE)
Stoneridge Investment Partners LLC decreased its stake in Sealed Air Corporation (NYSE:SEE) by 0.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 62,549 shares of the industrial products company’s stock after selling 55 shares during the period. Stoneridge Investment Partners LLC’s holdings in Sealed Air Corporation were worth $2,800,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SEE. Conning Inc. boosted its stake in Sealed Air Corporation by 1.5% in the first quarter. Conning Inc. now owns 4,754 shares of the industrial products company’s stock valued at $207,000 after buying an additional 70 shares during the period. Shell Asset Management Co. boosted its stake in Sealed Air Corporation by 4.7% in the first quarter. Shell Asset Management Co. now owns 13,073 shares of the industrial products company’s stock valued at $570,000 after buying an additional 588 shares during the period. ProShare Advisors LLC boosted its stake in Sealed Air Corporation by 63.7% in the first quarter. ProShare Advisors LLC now owns 28,551 shares of the industrial products company’s stock valued at $1,244,000 after buying an additional 11,114 shares during the period. Retirement Systems of Alabama boosted its stake in Sealed Air Corporation by 2.1% in the first quarter. Retirement Systems of Alabama now owns 93,523 shares of the industrial products company’s stock valued at $4,076,000 after buying an additional 1,900 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Sealed Air Corporation during the first quarter valued at $199,000. Institutional investors own 91.94% of the company’s stock.
Shares of Sealed Air Corporation (NYSE:SEE) opened at 44.85 on Thursday. The company has a 50-day moving average price of $44.97 and a 200 day moving average price of $45.23. Sealed Air Corporation has a one year low of $41.74 and a one year high of $50.62. The company has a market capitalization of $8.78 billion, a PE ratio of 25.78 and a beta of 1.16.
Sealed Air Corporation (NYSE:SEE) last posted its quarterly earnings results 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. Sealed Air Corporation’s revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Sealed Air Corporation will post $1.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.43%. Sealed Air Corporation’s payout ratio is 33.16%.
Several analysts have recently weighed in on the company. Bank of America Corporation cut Sealed Air Corporation from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a report on Tuesday, May 9th. BMO Capital Markets restated a “hold” rating and set a $47.00 price target on shares of Sealed Air Corporation in a report on Thursday, July 20th. Zacks Investment Research cut Sealed Air Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub cut Sealed Air Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Robert W. Baird restated an “outperform” rating and set a $55.00 price target on shares of Sealed Air Corporation in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $48.91.
In related news, CAO William G. Stiehl sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $43.43, for a total transaction of $130,290.00. Following the transaction, the chief accounting officer now directly owns 37,797 shares in the company, valued at approximately $1,641,523.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jerome A. Peribere purchased 6,960 shares of Sealed Air Corporation stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average price of $42.97 per share, for a total transaction of $299,071.20. Following the completion of the transaction, the insider now owns 199,000 shares in the company, valued at $8,551,030. The disclosure for this purchase can be found here. 0.86% of the stock is owned by company insiders.
About Sealed Air Corporation
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.
Want to see what other hedge funds are holding SEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sealed Air Corporation (NYSE:SEE).
Receive News & Ratings for Sealed Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.