Sealed Air Corporation (SEE) Position Raised by Magnetar Financial LLC
Magnetar Financial LLC lifted its holdings in shares of Sealed Air Corporation (NYSE:SEE) by 233.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,608 shares of the industrial products company’s stock after buying an additional 48,702 shares during the period. Magnetar Financial LLC’s holdings in Sealed Air were worth $2,974,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Fiduciary Trust Co. purchased a new stake in shares of Sealed Air during the second quarter valued at $124,000. Massey Quick Simon & CO. LLC bought a new position in Sealed Air in the third quarter valued at about $140,000. Global X Management Co. LLC lifted its holdings in Sealed Air by 23.7% in the second quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 699 shares during the period. Pacer Advisors Inc. lifted its holdings in Sealed Air by 8.1% in the second quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 322 shares during the period. Finally, King Luther Capital Management Corp bought a new position in Sealed Air in the second quarter valued at about $205,000. 93.09% of the stock is currently owned by institutional investors.
Sealed Air Corporation (NYSE SEE) traded down $0.41 during midday trading on Thursday, hitting $47.58. The stock had a trading volume of 3,435,600 shares, compared to its average volume of 2,185,308. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.70 and a quick ratio of 1.34. Sealed Air Corporation has a 1 year low of $41.22 and a 1 year high of $50.62. The company has a market capitalization of $8,656.74, a P/E ratio of 24.00, a P/E/G ratio of 6.65 and a beta of 1.23.
Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. analysts forecast that Sealed Air Corporation will post 1.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, November 30th. Sealed Air’s dividend payout ratio (DPR) is currently 12.19%.
In related news, SVP Emile Z. Chammas sold 6,000 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $45.24, for a total transaction of $271,440.00. Following the completion of the sale, the senior vice president now owns 142,077 shares in the company, valued at $6,427,563.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the sale, the director now owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
A number of research analysts have weighed in on the company. TheStreet raised Sealed Air from a “c+” rating to a “b-” rating in a report on Thursday, November 30th. SunTrust Banks reissued a “buy” rating and issued a $49.00 target price on shares of Sealed Air in a report on Friday, November 17th. Zacks Investment Research raised Sealed Air from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Royal Bank Of Canada reissued a “hold” rating and issued a $47.00 target price on shares of Sealed Air in a report on Thursday, November 9th. Finally, Barclays increased their target price on Sealed Air from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $48.83.
Sealed Air 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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