United Services Automobile Association Sells 2,258 Shares of Sealed Air Corp (SEE)
United Services Automobile Association decreased its holdings in shares of Sealed Air Corp (NYSE:SEE) by 4.3% during the second quarter, HoldingsChannel reports. The firm owned 50,559 shares of the industrial products company’s stock after selling 2,258 shares during the period. United Services Automobile Association’s holdings in Sealed Air were worth $2,146,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Sealed Air by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 899,866 shares of the industrial products company’s stock valued at $38,505,000 after purchasing an additional 4,119 shares during the period. Russell Investments Group Ltd. grew its position in Sealed Air by 8.1% during the 1st quarter. Russell Investments Group Ltd. now owns 53,168 shares of the industrial products company’s stock worth $2,267,000 after acquiring an additional 4,002 shares during the last quarter. Principal Financial Group Inc. grew its position in Sealed Air by 5.1% during the 1st quarter. Principal Financial Group Inc. now owns 396,802 shares of the industrial products company’s stock worth $16,980,000 after acquiring an additional 19,220 shares during the last quarter. LPL Financial LLC grew its position in Sealed Air by 71.8% during the 1st quarter. LPL Financial LLC now owns 10,508 shares of the industrial products company’s stock worth $450,000 after acquiring an additional 4,391 shares during the last quarter. Finally, WINTON GROUP Ltd grew its position in Sealed Air by 8.7% during the 1st quarter. WINTON GROUP Ltd now owns 80,295 shares of the industrial products company’s stock worth $3,436,000 after acquiring an additional 6,407 shares during the last quarter. 96.30% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on SEE shares. Robert W. Baird decreased their price target on Sealed Air from $55.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday. ValuEngine lowered Sealed Air from a “sell” rating to a “strong sell” rating in a research report on Thursday. Citigroup decreased their price target on Sealed Air from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 11th. Zacks Investment Research lowered Sealed Air from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Finally, Bank of America lowered Sealed Air from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $47.09.
Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Sealed Air had a return on equity of 859.42% and a net margin of 14.37%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS. Analysts forecast that Sealed Air Corp will post 2.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.99%. Sealed Air’s payout ratio is 35.36%.
In other news, insider Edward L. Doheny II acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were purchased at an average cost of $39.65 per share, for a total transaction of $198,250.00. Following the transaction, the insider now owns 78,145 shares of the company’s stock, valued at $3,098,449.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jerry R. Whitaker acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was purchased at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the transaction, the director now directly owns 8,021 shares in the company, valued at approximately $319,316.01. The disclosure for this purchase can be found here. Insiders acquired a total of 6,600 shares of company stock worth $262,654 over the last quarter. Corporate insiders own 0.63% of the company’s stock.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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