UBS Asset Management Americas Inc. Boosts Position in Sealed Air Corporation (SEE)
UBS Asset Management Americas Inc. boosted its holdings in shares of Sealed Air Corporation (NYSE:SEE) by 7.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 529,091 shares of the industrial products company’s stock after purchasing an additional 37,847 shares during the period. UBS Asset Management Americas Inc. owned about 0.27% of Sealed Air Corporation worth $23,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fiduciary Trust Co. acquired a new position in Sealed Air Corporation during the second quarter valued at $124,000. Global X Management Co. LLC lifted its position in Sealed Air Corporation by 30.4% during the first quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 687 shares during the period. Pacer Advisors Inc. lifted its position in Sealed Air Corporation by 3.0% during the first quarter. Pacer Advisors Inc. now owns 3,979 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 116 shares during the period. FNY Partners Fund LP acquired a new position in Sealed Air Corporation during the first quarter valued at $196,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Sealed Air Corporation during the second quarter valued at $201,000. Institutional investors own 92.12% of the company’s stock.
In related news, Director Lawrence R. Codey sold 3,500 shares of the firm’s 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 sale, the director now owns 38,180 shares in the company, valued at $1,638,303.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.05% of the stock is owned by company insiders.
A number of research analysts recently issued reports on SEE shares. BMO Capital Markets restated a “hold” rating and set a $45.00 target price on shares of Sealed Air Corporation in a research report on Friday, June 9th. Royal Bank Of Canada restated a “hold” rating and set a $44.00 target price on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. Robert W. Baird restated an “outperform” rating and set a $55.00 target price on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. BidaskClub upgraded shares of Sealed Air Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, Zacks Investment Research upgraded shares of Sealed Air Corporation from a “strong sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $48.33.
Shares of Sealed Air Corporation (NYSE SEE) opened at 42.72 on Friday. Sealed Air Corporation has a 1-year low of $41.22 and a 1-year high of $50.62. The stock’s 50 day moving average is $44.13 and its 200-day moving average is $44.40. The stock has a market cap of $8.12 billion, a PE ratio of 22.08 and a beta of 1.19.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that Sealed Air Corporation will post $1.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Wednesday, August 30th. Sealed Air Corporation’s dividend payout ratio (DPR) is 33.16%.
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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 (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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