Sealed Air Corp (NYSE:SEE) Shares Acquired by Bank of Nova Scotia – TechNewsObserver

Posted: September 30, 2019 at 3:46 pm

Bank of Nova Scotia grew its stake in Sealed Air Corp (NYSE:SEE) by 7.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,998 shares of the industrial products companys stock after purchasing an additional 8,668 shares during the period. Bank of Nova Scotia owned about 0.08% of Sealed Air worth $5,519,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SEE. LSV Asset Management purchased a new stake in Sealed Air in the 1st quarter worth approximately $50,283,000. APG Asset Management N.V. boosted its position in Sealed Air by 173.0% in the 2nd quarter. APG Asset Management N.V. now owns 829,152 shares of the industrial products companys stock worth $31,148,000 after purchasing an additional 525,381 shares in the last quarter. Renaissance Technologies LLC boosted its position in Sealed Air by 23.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,408,334 shares of the industrial products companys stock worth $60,249,000 after purchasing an additional 271,125 shares in the last quarter. AJO LP purchased a new stake in Sealed Air in the 1st quarter worth approximately $7,036,000. Finally, Cibc World Markets Corp boosted its position in Sealed Air by 287.5% in the 2nd quarter. Cibc World Markets Corp now owns 195,749 shares of the industrial products companys stock worth $8,374,000 after purchasing an additional 145,235 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the companys stock.

NYSE SEE opened at $41.37 on Monday. The business has a fifty day moving average price of $41.56 and a 200 day moving average price of $43.47. Sealed Air Corp has a one year low of $30.22 and a one year high of $47.13. The company has a market cap of $6.33 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.45 and a beta of 1.08.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.64 by $0.16. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company earned $0.64 EPS. The firms revenue was up .5% compared to the same quarter last year. On average, research analysts predict that Sealed Air Corp will post 2.78 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, September 5th. Sealed Airs dividend payout ratio is currently 25.60%.

A number of brokerages have recently issued reports on SEE. Wells Fargo & Co increased their target price on Sealed Air from $42.00 to $43.00 and gave the company a market perform rating in a research report on Tuesday, August 6th. ValuEngine lowered Sealed Air from a hold rating to a sell rating in a research report on Wednesday, September 4th. KeyCorp reiterated a sell rating and set a $39.00 target price on shares of Sealed Air in a research report on Friday, August 2nd. Finally, Bank of America lowered Sealed Air from a buy rating to a neutral rating and set a $41.63 target price on the stock. in a research report on Friday, June 21st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $42.69.

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.

See Also: Insider Trading

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Sealed Air Corp (NYSE:SEE) Shares Acquired by Bank of Nova Scotia - TechNewsObserver

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