Cibc World Markets Corp acquired a new stake in Sealed Air Co. (NYSE:SEE – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,007 shares of the industrial products company’s stock, valued at approximately $848,000.
Other large investors also recently bought and sold shares of the company. Whittier Trust Co. grew its position in Sealed Air by 54.2% in the fourth quarter. Whittier Trust Co. now owns 666 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 234 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Sealed Air during the fourth quarter worth approximately $52,000. Western Pacific Wealth Management LP bought a new stake in shares of Sealed Air in the fourth quarter worth $57,000. 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 buying an additional 755 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Sealed Air by 21.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,487 shares of the industrial products company’s stock worth $74,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds own 89.63% of the company’s stock.
Analyst Upgrades and Downgrades
SEE has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Sealed Air from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, February 13th. Credit Suisse Group dropped their price target on shares of Sealed Air from $64.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, February 13th. Mizuho dropped their price target on shares of Sealed Air from $58.00 to $56.00 in a research note on Wednesday, May 3rd. Morgan Stanley lowered shares of Sealed Air from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $60.00 to $48.00 in a research note on Tuesday, May 9th. Finally, Royal Bank of Canada lowered their target price on shares of Sealed Air from $58.00 to $54.00 in a research note on Thursday, May 4th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.27.
Sealed Air Stock Performance
Sealed Air (NYSE:SEE – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.03). Sealed Air had a net margin of 7.25% and a return on equity of 196.19%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted $1.12 EPS. The business’s revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Sealed Air Co. will post 3.57 earnings per share for the current year.
Sealed Air Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, June 8th. Sealed Air’s payout ratio is currently 28.88%.
About Sealed Air
Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.
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