Hartford Investment Management Co. reduced its holdings in shares of Sealed Air Co. (NYSE: SEE – Get Rating ) by 7.1% during the first quarter, Holdings Channel reports. The fund owned 14,187 shares of the industrial products company’s stock after selling 1,077 shares during the period. Hartford Investment Management Co.’s holdings. in Sealed Air were worth $950,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SEE. BlackRock Inc. boosted its holdings in Sealed Air by 13.0% during the 4th quarter. BlackRock Inc. now owns 18,393,878 shares of the industrial products company’s stock valued at $1,241,033,000 after acquiring an additional 2,114,602 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Sealed Air by 230.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,609,512 shares of the industrial products company’s stock valued at $108,594,000 after acquiring an additional 1,122,961 shares in the last quarter. Kensico Capital Management Corp lifted its position in shares of Sealed Air by 33.8% during the fourth quarter. Kensico Capital Management Corp now owns 4,193,157 shares of the industrial products company’s stock valued at $282,912,000 after buying an additional 1,058,900 shares in the last quarter. Millennium Management LLC lifted its position in shares of Sealed Air by 824.3% during the fourth quarter. Millennium Management LLC now owns 552,042 shares of the industrial products company’s stock valued at $37,246,000 after buying an additional 492,314 shares during the last quarter. Finally, Point72 Asset Management LP bought a new stake in shares of Sealed Air in the fourth quarter valued at about $32,042,000. Institutional investors own 90.23% of the company’s shares.
Shares of Sealed Air stock opened at $59.10 on Tuesday. The firm has a market cap of $8.63 billion, a P/E ratio of 16.33, a PEG ratio of 1.35 and a beta of 1.16. The company has a quick ratio of 0.74, a current ratio of 1.31 and a debt-to-equity ratio of 19.38. The company has a 50-day moving average of $61.52 and a 200-day moving average of $64.89. Sealed Air Co. has a 52-week low of $53.87 and a 52-week high of $70.72.
Sealed Air (NYSE: SEE – Get Rating ) last posted its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. Sealed Air had a net margin of 9.60% and a return on equity of 355.49%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ estimates of $1.39 billion. During the same period last year, the firm reported $0.78 EPS. Sealed Air’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts expect Sealed Air Co. to report 4.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were given a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a yield of 1.35%. The ex-dividend date was Thursday, June 9th. Sealed Air’s dividend payout ratio is currently 22.10%.
Several research firms have commented on SEE. JPMorgan Chase & Co. lowered shares of Sealed Air from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $71.00 to $62.00 in a research report on Wednesday, June 1st. StockNews.com began coverage on shares of Sealed Air in a research report on Thursday, March 31st. They assign a “buy” rating to the company. Finally, Citigroup cut their target price on shares of Sealed Air from $81.00 to $80.00 in a research report on Friday, April 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.73, based on data from MarketBeat.com.
Closed air profile (Get Rating)
Sealed Air Corporation provides food safety and security and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa and Asia Pacific. It operates in two segments, food and security. The food segment offers integrated packaging materials and automated equipment solutions to ensure food safety and extend shelf life, reduce food waste, automate processes and optimize total costs for food processors of fresh red meat, smoked and processed foods meat, poultry, seafood, plant and dairy markets under the brands CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps and Optidure.
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