Mackenzie Financial Corp lifted its holdings in shares of Sealed Air Co. (NYSE:SEE – Get Rating) by 24.2% during the second quarter, Holdings Channel.com reports. The fund owned 15,636 shares of the industrial products company’s stock after acquiring an additional 3,042 shares during the period. Mackenzie Financial Corp’s holdings in Sealed Air were worth $903,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. CX Institutional acquired a new stake in shares of Sealed Air during the second quarter worth about $39,000. Atticus Wealth Management LLC boosted its holdings in shares of Sealed Air by 6,200.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 756 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 744 shares during the last quarter. Zions Bancorporation N.A. increased its stake in shares of Sealed Air by 334.1% in the first quarter. Zions Bancorporation N.A. now owns 981 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 755 shares during the period. Baader Bank INC purchased a new position in shares of Sealed Air during the first quarter worth $100,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Sealed Air during the second quarter valued at $95,000. Institutional investors and hedge funds own 82.41% of the company’s stock.
Sealed Air Stock Down 0.1 %
SEE stock opened at $52.08 on Thursday. Sealed Air Co. has a 52 week low of $41.24 and a 52 week high of $70.72. The company has a quick ratio of 0.57, a current ratio of 1.08 and a debt-to-equity ratio of 14.83. The firm has a 50-day simple moving average of $46.94 and a 200-day simple moving average of $54.41. The stock has a market capitalization of $7.53 billion, a P/E ratio of 13.39, a P/E/G ratio of 2.33 and a beta of 1.20.
Sealed Air Announces Dividend
Analyst Ratings Changes
Several brokerages have weighed in on SEE. Royal Bank of Canada cut their price target on Sealed Air from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 2nd. Citigroup decreased their price target on Sealed Air from $70.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Morgan Stanley cut their target price on shares of Sealed Air from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. JPMorgan Chase & Co. raised shares of Sealed Air from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $62.00 to $58.00 in a report on Tuesday, August 30th. Finally, Wells Fargo & Company cut their price objective on shares of Sealed Air from $52.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, November 2nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air currently has an average rating of “Moderate Buy” and a consensus target price of $60.45.
Insider Activity at Sealed Air
In other Sealed Air news, SVP Sergio A. Pupkin bought 1,000 shares of the stock in a transaction on Wednesday, November 2nd. The shares were bought at an average price of $44.33 per share, with a total value of $44,330.00. Following the purchase, the senior vice president now directly owns 46,748 shares in the company, valued at approximately $2,072,338.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sealed Air news, SVP Sergio A. Pupkin purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average cost of $44.33 per share, with a total value of $44,330.00. Following the completion of the purchase, the senior vice president now owns 46,748 shares in the company, valued at approximately $2,072,338.84. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Zubaid Ahmad purchased 1,200 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were acquired at an average price of $42.12 per share, for a total transaction of $50,544.00. Following the completion of the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $50,544. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,700 shares of company stock valued at $176,579. 0.44% of the stock is owned by insiders.
About Sealed Air
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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