PNC Financial Services Group Inc. lowered its stake in shares of Sealed Air Corp (NYSE:SEE) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,847 shares of the industrial products company’s stock after selling 1,983 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sealed Air were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in SEE. Signaturefd LLC grew its holdings in Sealed Air by 126.8% in the second quarter. Signaturefd LLC now owns 812 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 454 shares during the period. Creative Financial Designs Inc. ADV purchased a new stake in Sealed Air in the second quarter worth about $35,000. Glenmede Trust Co. NA grew its holdings in Sealed Air by 154.2% in the second quarter. Glenmede Trust Co. NA now owns 1,543 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 936 shares during the period. Trust Co. of Vermont grew its holdings in Sealed Air by 1,206.3% in the second quarter. Trust Co. of Vermont now owns 2,299 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 2,123 shares during the period. Finally, Private Capital Group LLC grew its holdings in Sealed Air by 12.4% in the second quarter. Private Capital Group LLC now owns 2,338 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 258 shares during the period. Institutional investors own 91.55% of the company’s stock.
Shares of NYSE SEE opened at $37.85 on Friday. The firm’s 50 day moving average price is $40.00 and its 200-day moving average price is $32.84. The company has a market cap of $5.89 billion, a PE ratio of 14.73, a P/E/G ratio of 2.08 and a beta of 1.24. Sealed Air Corp has a 52-week low of $17.06 and a 52-week high of $42.74.
Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.22. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.07 billion. Sealed Air had a net margin of 8.24% and a negative return on equity of 240.81%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, equities research analysts forecast that Sealed Air Corp will post 2.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, September 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.69%. Sealed Air’s dividend payout ratio (DPR) is 22.70%.
In other Sealed Air news, SVP Karl R. Deily sold 63,349 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $40.00, for a total value of $2,533,960.00. Following the transaction, the senior vice president now directly owns 196,398 shares in the company, valued at $7,855,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karl R. Deily sold 9,239 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $40.18, for a total transaction of $371,223.02. Following the completion of the transaction, the senior vice president now owns 176,596 shares in the company, valued at $7,095,627.28. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on SEE shares. KeyCorp restated a “hold” rating on shares of Sealed Air in a report on Thursday, August 6th. ValuEngine cut shares of Sealed Air from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. UBS Group began coverage on shares of Sealed Air in a report on Thursday, September 17th. They issued a “buy” rating and a $52.00 price objective on the stock. G.Research reiterated a “buy” rating on shares of Sealed Air in a research note on Monday, August 10th. Finally, Citigroup upped their target price on shares of Sealed Air from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $39.36.
Sealed Air Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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