Great Lakes Advisors LLC grew its position in shares of Sealed Air Corp (NYSE:SEE) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 343,165 shares of the industrial products company’s stock after acquiring an additional 10,752 shares during the quarter. Great Lakes Advisors LLC owned about 0.22% of Sealed Air worth $14,244,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Motco acquired a new stake in Sealed Air in the second quarter worth about $29,000. Doyle Wealth Management acquired a new stake in Sealed Air in the second quarter worth about $40,000. CSat Investment Advisory L.P. lifted its holdings in Sealed Air by 34.1% in the second quarter. CSat Investment Advisory L.P. now owns 1,234 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 314 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in Sealed Air in the third quarter worth about $96,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Sealed Air by 51.4% in the second quarter. Rockefeller Capital Management L.P. now owns 2,894 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 983 shares during the period. 95.82% of the stock is owned by institutional investors.
NYSE SEE traded down $0.34 on Wednesday, reaching $38.13. The company’s stock had a trading volume of 57,610 shares, compared to its average volume of 1,361,797. Sealed Air Corp has a twelve month low of $32.33 and a twelve month high of $47.13. The stock has a market cap of $5.86 billion, a PE ratio of 15.25, a PEG ratio of 1.45 and a beta of 1.07. The firm’s 50 day moving average is $40.94 and its two-hundred day moving average is $42.37.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, December 5th. Sealed Air’s payout ratio is 25.60%.
SEE has been the subject of several research analyst reports. KeyCorp raised shares of Sealed Air from an “underweight” rating to a “sector weight” rating in a report on Wednesday, November 6th. They noted that the move was a valuation call. Wells Fargo & Co reduced their price objective on shares of Sealed Air from $43.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, November 7th. ValuEngine downgraded shares of Sealed Air from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Finally, Citigroup reduced their price objective on shares of Sealed Air from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.96.
In related news, CFO James M. Sullivan acquired 5,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were purchased at an average price of $38.75 per share, for a total transaction of $193,750.00. Following the acquisition, the chief financial officer now owns 17,028 shares in the company, valued at $659,835. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.
Sealed Air Profile
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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