Sealed Air Corp (SEE) Shares Sold by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. trimmed its position in shares of Sealed Air Corp (NYSE:SEE) by 68.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,357 shares of the industrial products company’s stock after selling 56,123 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Sealed Air were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEE. BNP Paribas Arbitrage SA lifted its holdings in shares of Sealed Air by 1,148.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,454,312 shares of the industrial products company’s stock valued at $62,230,000 after buying an additional 1,337,835 shares during the period. Ceredex Value Advisors LLC bought a new position in shares of Sealed Air during the 1st quarter valued at $45,313,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Sealed Air by 509.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 939,426 shares of the industrial products company’s stock valued at $40,199,000 after buying an additional 785,276 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of Sealed Air by 99.0% during the 1st quarter. OppenheimerFunds Inc. now owns 1,027,120 shares of the industrial products company’s stock valued at $43,951,000 after buying an additional 510,959 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Sealed Air by 12.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,256,034 shares of the industrial products company’s stock valued at $96,537,000 after buying an additional 249,574 shares during the period. 96.45% of the stock is currently owned by hedge funds and other institutional investors.
In other Sealed Air news, Director Jerry R. Whitaker purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the purchase, the director now owns 8,021 shares of the company’s stock, valued at approximately $319,316.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward L. Doheny II purchased 5,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $39.65 per share, with a total value of $198,250.00. Following the purchase, the insider now directly owns 78,145 shares in the company, valued at approximately $3,098,449.25. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,600 shares of company stock valued at $262,654 and sold 20,000 shares valued at $897,400. Corporate insiders own 0.63% of the company’s stock.
Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, August 2nd. The industrial products company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.06. Sealed Air had a return on equity of 859.42% and a net margin of 14.37%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $0.34 EPS. Sealed Air’s revenue for the quarter was up 7.9% compared to the same quarter last year. analysts forecast that Sealed Air Corp will post 2.52 earnings per share for the current year.
Sealed Air announced that its Board of Directors has initiated a share buyback program on Thursday, May 3rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 13.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.64%. Sealed Air’s payout ratio is presently 35.36%.
Several research firms have recently weighed in on SEE. Barclays lowered their price target on Sealed Air from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, August 9th. ValuEngine cut Sealed Air from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. KeyCorp reaffirmed a “hold” rating on shares of Sealed Air in a report on Thursday, August 2nd. Zacks Investment Research cut Sealed Air from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, UBS Group set a $52.00 target price on Sealed Air and gave the stock a “buy” rating in a report on Wednesday, May 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Sealed Air presently has a consensus rating of “Hold” and a consensus target price of $50.27.
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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