Moody National Bank Trust Division trimmed its holdings in Sealed Air Co. (NYSE:SEE – Get Rating) by 63.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,404 shares of the industrial products company’s stock after selling 12,615 shares during the quarter. Moody National Bank Trust Division’s holdings in Sealed Air were worth $428,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Sealed Air by 8.8% in the 1st quarter. BlackRock Inc. now owns 20,006,898 shares of the industrial products company’s stock worth $1,339,661,000 after purchasing an additional 1,613,020 shares during the period. Vanguard Group Inc. boosted its stake in Sealed Air by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 16,464,222 shares of the industrial products company’s stock worth $1,102,444,000 after purchasing an additional 148,634 shares during the period. Kensico Capital Management Corp boosted its stake in Sealed Air by 33.8% in the 4th quarter. Kensico Capital Management Corp now owns 4,193,157 shares of the industrial products company’s stock worth $282,912,000 after purchasing an additional 1,058,900 shares during the period. Bank of America Corp DE boosted its stake in Sealed Air by 13.0% in the 1st quarter. Bank of America Corp DE now owns 3,635,752 shares of the industrial products company’s stock worth $243,450,000 after purchasing an additional 417,485 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Sealed Air by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,768,451 shares of the industrial products company’s stock worth $186,294,000 after acquiring an additional 22,136 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Sealed Air news, COO Emile Z. Chammas bought 1,000 shares of Sealed Air stock in a transaction on Wednesday, August 31st. The shares were acquired at an average price of $54.08 per share, for a total transaction of $54,080.00. Following the completion of the purchase, the chief operating officer now directly owns 208,161 shares in the company, valued at approximately $11,257,346.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Emile Z. Chammas purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were acquired at an average price of $54.08 per share, with a total value of $54,080.00. Following the transaction, the chief operating officer now owns 208,161 shares of the company’s stock, valued at $11,257,346.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Henry R. Keizer purchased 500 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average cost of $55.25 per share, for a total transaction of $27,625.00. Following the transaction, the director now directly owns 20,763 shares in the company, valued at approximately $1,147,155.75. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,000 shares of company stock worth $395,640 over the last quarter. Company insiders own 0.44% of the company’s stock.
Wall Street Analyst Weigh In
Sealed Air Stock Performance
SEE stock opened at $48.65 on Monday. The company has a quick ratio of 0.72, a current ratio of 1.34 and a debt-to-equity ratio of 18.30. The business’s fifty day simple moving average is $56.32 and its two-hundred day simple moving average is $61.04. Sealed Air Co. has a twelve month low of $47.89 and a twelve month high of $70.72. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.90 and a beta of 1.17.
Sealed Air (NYSE:SEE – Get Rating) last released its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Sealed Air had a return on equity of 320.73% and a net margin of 9.56%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. Analysts predict that Sealed Air Co. will post 4.15 earnings per share for the current year.
Sealed Air Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. Sealed Air’s payout ratio is 21.74%.
Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.
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