Penserra Capital Management LLC Has $92,000 Position in Sealed Air Corp (NYSE:SEE)
Penserra Capital Management LLC raised its stake in Sealed Air Corp (NYSE:SEE) by 42.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,562 shares of the industrial products company’s stock after purchasing an additional 758 shares during the period. Penserra Capital Management LLC’s holdings in Sealed Air were worth $92,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Kwmg LLC raised its holdings in Sealed Air by 2.6% during the 4th quarter. Kwmg LLC now owns 61,935 shares of the industrial products company’s stock worth $2,467,000 after purchasing an additional 1,541 shares during the last quarter. State Street Corp raised its holdings in shares of Sealed Air by 0.8% during the third quarter. State Street Corp now owns 7,060,158 shares of the industrial products company’s stock valued at $293,067,000 after acquiring an additional 57,933 shares in the last quarter. Andra AP fonden raised its holdings in shares of Sealed Air by 27.8% during the third quarter. Andra AP fonden now owns 89,700 shares of the industrial products company’s stock valued at $3,723,000 after acquiring an additional 19,500 shares in the last quarter. CWM Advisors LLC raised its holdings in shares of Sealed Air by 12.7% during the fourth quarter. CWM Advisors LLC now owns 13,640 shares of the industrial products company’s stock valued at $543,000 after acquiring an additional 1,541 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Sealed Air during the third quarter valued at approximately $4,082,000. Hedge funds and other institutional investors own 93.38% of the company’s stock.
In related news, CEO Edward L. Doheny II bought 10,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of $23.05 per share, with a total value of $230,500.00. Also, Director Patrick Duff acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $35.00 per share, with a total value of $525,000.00. Following the acquisition, the director now owns 106,625 shares in the company, valued at $3,731,875. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 49,000 shares of company stock worth $1,472,070. Corporate insiders own 0.53% of the company’s stock.
Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Tuesday, February 11th. The industrial products company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.04. Sealed Air had a negative return on equity of 155.41% and a net margin of 5.49%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts predict that Sealed Air Corp will post 2.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Thursday, March 5th. Sealed Air’s payout ratio is 22.70%.
Several research firms have commented on SEE. Bank of America raised shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday, December 19th. ValuEngine upgraded shares of Sealed Air from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Wells Fargo & Co decreased their price objective on shares of Sealed Air from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Cfra upgraded shares of Sealed Air from a “sell” rating to a “hold” rating and set a $36.00 price objective on the stock in a research report on Wednesday, February 12th. Finally, KeyCorp reiterated a “hold” rating on shares of Sealed Air in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.29.
About Sealed Air
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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