Trillium Asset Management LLC Sells 3,574 Shares of Sealed Air Corp (NYSE:SEE)
Trillium Asset Management LLC trimmed its stake in shares of Sealed Air Corp (NYSE:SEE) by 35.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,647 shares of the industrial products company’s stock after selling 3,574 shares during the quarter. Trillium Asset Management LLC’s holdings in Sealed Air were worth $276,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Sealed Air by 3.1% during the 1st quarter. FMR LLC now owns 88,646 shares of the industrial products company’s stock worth $4,083,000 after purchasing an additional 2,697 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of Sealed Air by 15.0% during the 2nd quarter. WINTON GROUP Ltd now owns 466,224 shares of the industrial products company’s stock worth $19,945,000 after purchasing an additional 60,924 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Sealed Air by 11,926.7% during the 2nd quarter. Contravisory Investment Management Inc. now owns 7,216 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 7,156 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Sealed Air during the 2nd quarter worth $1,061,000. Finally, Kwmg LLC lifted its position in shares of Sealed Air by 4.5% during the 2nd quarter. Kwmg LLC now owns 58,597 shares of the industrial products company’s stock worth $2,507,000 after purchasing an additional 2,512 shares during the last quarter. Institutional investors and hedge funds own 95.82% of the company’s stock.
In other Sealed Air news, CFO James M. Sullivan bought 5,000 shares of Sealed Air stock in a transaction dated Thursday, November 7th. The stock was acquired at an average cost of $38.75 per share, with a total value of $193,750.00. Following the completion of the acquisition, the chief financial officer now owns 17,028 shares of the company’s stock, valued at $659,835. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.
Sealed Air (NYSE:SEE) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Sealed Air had a net margin of 7.55% and a negative return on equity of 135.60%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Sealed Air Corp will post 2.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.69%. Sealed Air’s payout ratio is 25.60%.
Several equities research analysts have recently issued reports on SEE shares. Wells Fargo & Co decreased 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 research report on Thursday, November 7th. Citigroup decreased their price objective on shares of Sealed Air from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. ValuEngine cut shares of Sealed Air from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 10th. Finally, KeyCorp raised shares of Sealed Air from an “underweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.96.
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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