Chevy Chase Trust Holdings Inc. Has $7,572,000 Stake in Sealed Air Corp. (SEE)
Chevy Chase Trust Holdings Inc. cut its position in Sealed Air Corp. (NYSE:SEE) by 2.8% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 165,248 shares of the company’s stock after selling 4,716 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of Sealed Air Corp. worth $7,572,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Boston Partners acquired a new position in Sealed Air Corp. during the second quarter worth $275,038,000. Janus Capital Management LLC boosted its position in Sealed Air Corp. by 26.4% in the second quarter. Janus Capital Management LLC now owns 4,036,401 shares of the company’s stock worth $185,553,000 after buying an additional 843,167 shares during the last quarter. BlackRock Fund Advisors boosted its position in Sealed Air Corp. by 2.6% in the second quarter. BlackRock Fund Advisors now owns 3,233,880 shares of the company’s stock worth $148,661,000 after buying an additional 81,490 shares during the last quarter. RS Investment Management Co. LLC boosted its position in Sealed Air Corp. by 1.7% in the second quarter. RS Investment Management Co. LLC now owns 2,904,283 shares of the company’s stock worth $133,510,000 after buying an additional 48,140 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in Sealed Air Corp. during the second quarter worth $77,193,000. 89.72% of the stock is owned by institutional investors.
Shares of Sealed Air Corp. (NYSE:SEE) traded up 0.47% on Tuesday, reaching $46.95. The company had a trading volume of 1,034,206 shares. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 21.23 and a beta of 1.35. Sealed Air Corp. has a 1-year low of $38.02 and a 1-year high of $52.83. The firm has a 50-day moving average price of $45.50 and a 200 day moving average price of $46.47.
Sealed Air Corp. (NYSE:SEE) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.09 billion. Sealed Air Corp. had a return on equity of 92.87% and a net margin of 6.31%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 EPS. Equities research analysts predict that Sealed Air Corp. will post $2.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Wednesday, November 30th. Sealed Air Corp.’s dividend payout ratio (DPR) is 29.63%.
A number of equities analysts have commented on SEE shares. JPMorgan Chase & Co. started coverage on Sealed Air Corp. in a report on Tuesday, September 13th. They set a “neutral” rating and a $53.00 target price for the company. Credit Suisse Group AG reissued an “outperform” rating and set a $59.00 target price on shares of Sealed Air Corp. in a report on Thursday, September 8th. Robert W. Baird reissued an “outperform” rating on shares of Sealed Air Corp. in a report on Sunday, September 25th. Zacks Investment Research cut Sealed Air Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Finally, Citigroup Inc. reissued a “buy” rating and set a $55.00 target price on shares of Sealed Air Corp. in a report on Monday, October 17th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $53.50.
About Sealed Air Corp.
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing processors, retailers and food service operators a range of integrated system solutions.
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