Municipal Employees Retirement System of Michigan Sells 1,740 Shares of Sealed Air Corp (SEE)
Municipal Employees Retirement System of Michigan cut its position in Sealed Air Corp (NYSE:SEE) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,170 shares of the industrial products company’s stock after selling 1,740 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Sealed Air were worth $994,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new stake in Sealed Air in the 4th quarter valued at about $171,000. Compton Capital Management Inc. RI bought a new stake in shares of Sealed Air during the 4th quarter worth about $205,000. Zeke Capital Advisors LLC bought a new stake in shares of Sealed Air during the 4th quarter worth about $205,000. Beck Mack & Oliver LLC bought a new stake in shares of Sealed Air during the 4th quarter worth about $207,000. Finally, King Luther Capital Management Corp bought a new stake in shares of Sealed Air during the 4th quarter worth about $211,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.
A number of analysts have commented on SEE shares. TheStreet upgraded shares of Sealed Air from a “c+” rating to a “b-” rating in a research report on Thursday, November 30th. KeyCorp reaffirmed a “hold” rating on shares of Sealed Air in a research note on Friday, February 9th. Vertical Research raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Monday, February 12th. Citigroup lowered their price objective on shares of Sealed Air from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Finally, Zacks Investment Research raised shares of Sealed Air from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Sealed Air presently has an average rating of “Hold” and an average price target of $50.31.
Sealed Air (NYSE:SEE) last released its earnings results on Thursday, February 8th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. Sealed Air had a net margin of 17.90% and a return on equity of 74.28%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. research analysts predict that Sealed Air Corp will post 2.41 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Thursday, March 1st. Sealed Air’s dividend payout ratio (DPR) is currently 15.27%.
Sealed Air 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 (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.
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