Parametric Portfolio Associates LLC Acquires 47,354 Shares of Sealed Air Corp (NYSE:SEE)

Parametric Portfolio Associates LLC lifted its holdings in shares of Sealed Air Corp (NYSE:SEE) by 7.3% during the 3rd quarter, reports. The firm owned 693,168 shares of the industrial products company’s stock after buying an additional 47,354 shares during the period. Parametric Portfolio Associates LLC’s holdings in Sealed Air were worth $28,773,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SEE. Invesco Ltd. lifted its stake in shares of Sealed Air by 40.4% in the 2nd quarter. Invesco Ltd. now owns 4,203,199 shares of the industrial products company’s stock valued at $179,813,000 after purchasing an additional 1,210,417 shares during the last quarter. APG Asset Management N.V. raised its holdings in Sealed Air by 173.0% during the second quarter. APG Asset Management N.V. now owns 829,152 shares of the industrial products company’s stock valued at $31,148,000 after buying an additional 525,381 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Sealed Air during the second quarter valued at about $18,059,000. Vanguard Group Inc. lifted its position in shares of Sealed Air by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,711,432 shares of the industrial products company’s stock worth $800,475,000 after buying an additional 393,721 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Sealed Air by 3.1% in the second quarter. BlackRock Inc. now owns 10,812,637 shares of the industrial products company’s stock worth $462,564,000 after buying an additional 323,415 shares during the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.

Shares of NYSE:SEE opened at $37.33 on Wednesday. The stock’s 50-day moving average is $39.67 and its 200-day moving average is $41.65. The company has a market cap of $5.83 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.37 and a beta of 1.01. Sealed Air Corp has a 52-week low of $32.33 and a 52-week high of $47.13.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. Sealed Air had a negative return on equity of 135.60% and a net margin of 7.55%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Research analysts predict that Sealed Air Corp will post 2.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.71%. Sealed Air’s dividend payout ratio (DPR) is presently 25.60%.

In other Sealed Air news, CFO James M. Sullivan acquired 5,000 shares of Sealed Air stock in a transaction dated Thursday, November 7th. The stock was bought at an average cost of $38.75 per share, with a total value of $193,750.00. Following the completion of the transaction, the chief financial officer now owns 17,028 shares of the company’s stock, valued at $659,835. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by insiders.

A number of research analysts have recently commented on SEE shares. Robert W. Baird reissued a “buy” rating and set a $50.00 price objective on shares of Sealed Air in a report on Monday, November 18th. KeyCorp raised Sealed Air from an “underweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th. They noted that the move was a valuation call. Citigroup reduced their target price on Sealed Air from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. ValuEngine raised Sealed Air from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Co increased their price target on Sealed Air from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.29.

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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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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