Engineers Gate Manager LP acquired a new position in Sealed Air Corporation (NYSE:SEE) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 79,373 shares of the industrial products company’s stock, valued at approximately $3,391,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Sealed Air by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,011,046 shares of the industrial products company’s stock valued at $895,695,000 after purchasing an additional 403,530 shares in the last quarter. BlackRock Inc. lifted its holdings in Sealed Air by 2.8% in the 2nd quarter. BlackRock Inc. now owns 12,373,821 shares of the industrial products company’s stock valued at $553,853,000 after purchasing an additional 333,722 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Sealed Air by 46,138.7% in the 2nd quarter. Janus Henderson Group PLC now owns 10,600,215 shares of the industrial products company’s stock valued at $474,465,000 after purchasing an additional 10,577,290 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Sealed Air by 10.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,078,212 shares of the industrial products company’s stock valued at $216,347,000 after purchasing an additional 485,234 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Sealed Air by 4.7% in the 3rd quarter. Wells Fargo & Company MN now owns 4,387,183 shares of the industrial products company’s stock valued at $187,420,000 after purchasing an additional 195,840 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

SEE has been the topic of a number of recent research reports. Bank of America set a $50.00 target price on shares of Sealed Air and gave the company a “buy” rating in a report on Friday, October 13th. Robert W. Baird restated a “buy” rating and issued a $55.00 target price on shares of Sealed Air in a report on Friday, September 1st. BMO Capital Markets restated a “hold” rating and issued a $47.00 target price on shares of Sealed Air in a report on Sunday, August 27th. Zacks Investment Research lowered shares of Sealed Air from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Citigroup lowered shares of Sealed Air from a “buy” rating to a “neutral” rating and reduced their target price for the company from $52.00 to $47.00 in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $48.83.

In related news, SVP Emile Z. Chammas sold 6,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $45.24, for a total transaction of $271,440.00. Following the completion of the sale, the senior vice president now owns 142,077 shares of the company’s stock, valued at approximately $6,427,563.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.91, for a total transaction of $150,185.00. Following the sale, the director now directly owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Shares of Sealed Air Corporation (NYSE:SEE) traded down $0.13 during mid-day trading on Wednesday, hitting $47.99. 2,555,200 shares of the stock traded hands, compared to its average volume of 2,179,965. The stock has a market cap of $8,680.19, a price-to-earnings ratio of 24.06, a P/E/G ratio of 6.67 and a beta of 1.23. Sealed Air Corporation has a 1-year low of $41.22 and a 1-year high of $50.62. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.34 and a current ratio of 1.70.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Sealed Air had a net margin of 20.15% and a return on equity of 67.60%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. equities analysts expect that Sealed Air Corporation will post 1.8 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.33%. Sealed Air’s payout ratio is currently 12.19%.

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About Sealed Air

Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.

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

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