Mitsubishi UFJ Trust & Banking Corp Sells 2,767 Shares of Sealed Air Corp (SEE)
Mitsubishi UFJ Trust & Banking Corp decreased its position in Sealed Air Corp (NYSE:SEE) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,417 shares of the industrial products company’s stock after selling 2,767 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.20% of Sealed Air Corp worth $17,276,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in SEE. Janus Capital Management LLC raised its position in shares of Sealed Air Corp by 24.5% in the fourth quarter. Janus Capital Management LLC now owns 9,236,910 shares of the industrial products company’s stock worth $418,937,000 after buying an additional 1,817,818 shares during the period. State Street Corp raised its position in shares of Sealed Air Corp by 6.1% in the fourth quarter. State Street Corp now owns 8,773,022 shares of the industrial products company’s stock worth $397,771,000 after buying an additional 501,800 shares during the period. Putnam Investments LLC raised its position in shares of Sealed Air Corp by 89.7% in the fourth quarter. Putnam Investments LLC now owns 3,222,431 shares of the industrial products company’s stock worth $146,105,000 after buying an additional 1,524,152 shares during the period. Pioneer Investment Management Inc. raised its position in shares of Sealed Air Corp by 45.4% in the first quarter. Pioneer Investment Management Inc. now owns 2,475,136 shares of the industrial products company’s stock worth $107,866,000 after buying an additional 772,922 shares during the period. Finally, Norges Bank purchased a new position in shares of Sealed Air Corp during the fourth quarter worth $96,536,000. Institutional investors own 89.74% of the company’s stock.
Sealed Air Corp (NYSE:SEE) traded up 0.75% during trading on Monday, reaching $44.55. The company’s stock had a trading volume of 1,339,531 shares. The stock’s 50 day moving average is $43.75 and its 200 day moving average is $46.04. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 25.60 and a beta of 1.27. Sealed Air Corp has a 12 month low of $41.74 and a 12 month high of $50.62.
Sealed Air Corp (NYSE:SEE) last posted its earnings results on Tuesday, May 9th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by $0.03. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Sealed Air Corp had a return on equity of 89.29% and a net margin of 7.02%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. On average, equities analysts expect that Sealed Air Corp will post $1.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.44%. Sealed Air Corp’s dividend payout ratio is currently 26.56%.
SEE has been the topic of a number of recent research reports. KeyCorp reiterated a “hold” rating on shares of Sealed Air Corp in a research note on Friday, February 24th. Jefferies Group LLC lowered their target price on Sealed Air Corp to $45.00 in a research note on Friday, February 10th. Goldman Sachs Group Inc lowered Sealed Air Corp from a “conviction-buy” rating to a “buy” rating and lowered their target price for the stock from $53.00 to $50.00 in a research note on Tuesday, April 4th. Royal Bank of Canada reiterated a “buy” rating and set a $55.00 target price on shares of Sealed Air Corp in a research note on Tuesday, March 21st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $45.00 target price (down previously from $50.00) on shares of Sealed Air Corp in a research note on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Sealed Air Corp has a consensus rating of “Hold” and an average target price of $48.50.
In related news, insider Jerome A. Peribere bought 6,960 shares of the company’s stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $42.97 per share, for a total transaction of $299,071.20. Following the completion of the transaction, the insider now directly owns 199,000 shares in the company, valued at approximately $8,551,030. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO William G. Stiehl sold 3,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $43.43, for a total value of $130,290.00. Following the sale, the chief accounting officer now owns 37,797 shares in the company, valued at approximately $1,641,523.71. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.
Sealed Air Corp Company Profile
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 a range of integrated system solutions.
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