1,590,109 Shares in Sealed Air Corp (SEE) Obtained by Artisan Partners Limited Partnership

1,590,109 Shares in Sealed Air Corp (SEE) Obtained by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership bought a new position in shares of Sealed Air Corp (NYSE:SEE) during the first quarter, Holdings Channel reports. The firm bought 1,590,109 shares of the industrial products company’s stock, valued at approximately $69,297,000.

A number of other large investors also recently bought and sold shares of SEE. Tredje AP fonden raised its position in shares of Sealed Air Corp by 68.7% in the first quarter. Tredje AP fonden now owns 21,580 shares of the industrial products company’s stock worth $940,000 after buying an additional 8,790 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Sealed Air Corp by 96.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 30,383 shares of the industrial products company’s stock worth $1,324,000 after buying an additional 14,919 shares during the last quarter. Cibc World Markets Corp increased its stake in Sealed Air Corp by 52.2% in the first quarter. Cibc World Markets Corp now owns 20,189 shares of the industrial products company’s stock worth $880,000 after buying an additional 6,926 shares during the last quarter. Schroder Investment Management Group increased its stake in Sealed Air Corp by 1.4% in the first quarter. Schroder Investment Management Group now owns 1,664,195 shares of the industrial products company’s stock worth $72,059,000 after buying an additional 23,715 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Sealed Air Corp by 73.5% in the first quarter. Victory Capital Management Inc. now owns 34,786 shares of the industrial products company’s stock worth $1,516,000 after buying an additional 14,731 shares during the last quarter. 89.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sealed Air Corp (NYSE SEE) traded down 0.36% during trading on Friday, reaching $44.54. 6,785,818 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $43.95 and a 200-day moving average price of $45.99. Sealed Air Corp has a 52-week low of $41.74 and a 52-week high of $50.62. The company has a market capitalization of $8.72 billion, a PE ratio of 25.60 and a beta of 1.27.

Sealed Air Corp (NYSE:SEE) last issued its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.58 billion. Sealed Air Corp had a net margin of 7.02% and a return on equity of 89.29%. Sealed Air Corp’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 earnings per share. On average, equities analysts forecast that Sealed Air Corp will post $1.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Wednesday, May 31st. Sealed Air Corp’s payout ratio is presently 26.56%.

SEE has been the subject of several recent research reports. Goldman Sachs Group Inc downgraded Sealed Air Corp from a “conviction-buy” rating to a “buy” rating and lowered their price target for the company from $53.00 to $50.00 in a report on Tuesday, April 4th. Zacks Investment Research cut shares of Sealed Air Corp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 14th. Royal Bank of Canada reissued a “buy” rating and issued a $55.00 price objective on shares of Sealed Air Corp in a research report on Tuesday, March 21st. Bank of America Corp cut shares of Sealed Air Corp from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Tuesday, May 9th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $45.00 price objective (down from $50.00) on shares of Sealed Air Corp in a research report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $48.50.

In related news, insider Jerome A. Peribere acquired 6,960 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were bought at an average cost of $42.97 per share, with a total value of $299,071.20. Following the completion of the transaction, the insider now directly owns 199,000 shares of the company’s stock, valued at $8,551,030. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William G. Stiehl sold 3,000 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $43.43, for a total transaction of $130,290.00. Following the completion of the transaction, the chief accounting officer now directly owns 37,797 shares in the company, valued at $1,641,523.71. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Sealed Air Corp 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, 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SEE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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 Corp (NYSE:SEE).

Related posts

Leave a Comment