Contravisory Investment Management Inc. Grows Position in Sealed Air Co. (NYSE:SEE)
Contravisory Investment Management Inc. increased its position in Sealed Air Co. (NYSE:SEE) by 9,441.7% in the fourth quarter, HoldingsChannel reports. The firm owned 5,725 shares of the industrial products company’s stock after purchasing an additional 5,665 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Sealed Air were worth $262,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new position in Sealed Air during the fourth quarter valued at $31,157,000. FMR LLC lifted its position in shares of Sealed Air by 4,958.1% in the second quarter. FMR LLC now owns 577,886 shares of the industrial products company’s stock valued at $18,984,000 after acquiring an additional 566,461 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Sealed Air in the third quarter valued at about $6,256,000. Cubist Systematic Strategies LLC lifted its position in shares of Sealed Air by 992.8% in the third quarter. Cubist Systematic Strategies LLC now owns 166,541 shares of the industrial products company’s stock valued at $6,463,000 after acquiring an additional 151,301 shares in the last quarter. Finally, Cibc World Markets Corp lifted its position in shares of Sealed Air by 948.9% in the third quarter. Cibc World Markets Corp now owns 160,386 shares of the industrial products company’s stock worth $6,225,000 after buying an additional 145,095 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.
SEE opened at $45.47 on Thursday. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 2.19 and a beta of 1.20. The stock’s 50 day moving average price is $45.56 and its 200-day moving average price is $40.87. Sealed Air Co. has a one year low of $17.06 and a one year high of $47.90.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 18th. Investors of record on Friday, December 4th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, December 3rd. This represents a $0.64 annualized dividend and a yield of 1.41%. Sealed Air’s dividend payout ratio (DPR) is currently 22.70%.
SEE has been the topic of a number of research analyst reports. TheStreet upgraded Sealed Air from a “c” rating to a “b-” rating in a research report on Wednesday, October 28th. S&P Equity Research upgraded Sealed Air from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $54.00 in a research report on Thursday, January 7th. Morgan Stanley boosted their target price on Sealed Air from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. BidaskClub downgraded Sealed Air from a “buy” rating to a “hold” rating in a research report on Tuesday, December 15th. Finally, Smith Barney Citigroup raised Sealed Air from a “neutral” rating to a “buy” rating in a research note on Thursday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Sealed Air presently has an average rating of “Hold” and an average price target of $41.92.
In related news, SVP Karl R. Deily sold 9,250 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $40.14, for a total value of $371,295.00. Following the transaction, the senior vice president now owns 158,107 shares of the company’s stock, valued at $6,346,414.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Emile Z. Chammas sold 30,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $43.16, for a total value of $1,294,800.00. Following the completion of the transaction, the senior vice president now directly owns 182,261 shares in the company, valued at approximately $7,866,384.76. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
Sealed Air Profile
Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials, equipment, and automation solutions to provide food safety and shelf life extension, and reduce resource use for perishable food processors in the 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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