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 valued at $6,225,000 after acquiring an additional 145,095 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.
In other news, SVP Karl R. Deily sold 9,250 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $40.14, for a total transaction of $371,295.00. Following the completion of the sale, the senior vice president now owns 158,107 shares in the company, valued at approximately $6,346,414.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Emile Z. Chammas sold 30,000 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 182,261 shares in the company, valued at $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 (NYSE:SEE) last announced its quarterly earnings data on Monday, November 2nd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.16. Sealed Air had a negative return on equity of 240.81% and a net margin of 8.24%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.20 billion. As a group, sell-side analysts anticipate that Sealed Air Co. will post 2.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 18th. Shareholders of record on Friday, December 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, December 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.41%. Sealed Air’s dividend payout ratio is currently 22.70%.
SEE has been the topic of a number of research analyst reports. 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. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Sealed Air from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $54.00 in a research note on Thursday, January 7th. Morgan Stanley boosted their price objective on Sealed Air from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. BidaskClub cut Sealed Air from a “buy” rating to a “hold” rating in a research note on Tuesday, December 15th. Finally, UBS Group assumed coverage on Sealed Air in a research note on Thursday, September 17th. They set a “buy” rating and a $52.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. Sealed Air presently has an average rating of “Hold” and a consensus target price of $41.92.
Sealed Air Company 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.
Featured Article: Inflation
Want to see what other hedge funds are holding SEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sealed Air Co. (NYSE:SEE).
Receive News & Ratings for Sealed Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air and related companies with MarketBeat.com's FREE daily email newsletter.