American International Group Inc. Cuts Stock Holdings in Sealed Air Co. (NYSE:SEE)

American International Group Inc. lowered its stake in shares of Sealed Air Co. (NYSE:SEE) by 3.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,244 shares of the industrial products company’s stock after selling 1,796 shares during the quarter. American International Group Inc.’s holdings in Sealed Air were worth $1,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Raymond James & Associates grew its stake in shares of Sealed Air by 3.7% during the third quarter. Raymond James & Associates now owns 16,943 shares of the industrial products company’s stock worth $658,000 after purchasing an additional 602 shares in the last quarter. Mackay Shields LLC boosted its stake in Sealed Air by 6.9% in the third quarter. Mackay Shields LLC now owns 25,847 shares of the industrial products company’s stock valued at $1,003,000 after acquiring an additional 1,676 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Sealed Air by 11.1% in the third quarter. Venturi Wealth Management LLC now owns 9,000 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 897 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Sealed Air in the third quarter valued at $343,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in Sealed Air in the third quarter valued at $200,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

In other Sealed Air news, SVP Emile Z. Chammas sold 30,000 shares of Sealed Air stock in a transaction on Monday, November 9th. The shares were sold at an average price of $43.16, for a total value of $1,294,800.00. Following the transaction, the senior vice president now owns 182,261 shares in the company, valued at approximately $7,866,384.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Karl R. Deily sold 9,239 shares of Sealed Air stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $40.00, for a total transaction of $369,560.00. Following the completion of the transaction, the senior vice president now owns 167,357 shares in the company, valued at approximately $6,694,280. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,728 shares of company stock valued at $2,406,878. Corporate insiders own 0.53% of the company’s stock.

Shares of SEE opened at $45.20 on Friday. The firm has a 50 day simple moving average of $41.76 and a 200-day simple moving average of $36.95. Sealed Air Co. has a 1-year low of $17.06 and a 1-year high of $45.59. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Monday, November 2nd. The industrial products company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.16. Sealed Air had a net margin of 8.24% and a negative return on equity of 240.81%. On average, equities analysts expect that Sealed Air Co. will post 2.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.42%. Sealed Air’s dividend payout ratio (DPR) is 22.70%.

SEE has been the subject of several research analyst reports. G.Research restated a “buy” rating on shares of Sealed Air in a research note on Monday, August 10th. Seaport Global Securities began coverage on shares of Sealed Air in a research note on Wednesday, October 14th. They set a “neutral” rating for the company. UBS Group began coverage on shares of Sealed Air in a research note on Thursday, September 17th. They set a “buy” rating and a $52.00 target price for the company. TheStreet upgraded shares of Sealed Air from a “c” rating to a “b-” rating in a research note on Wednesday, October 28th. Finally, Morgan Stanley increased their target price on shares of Sealed Air from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Sealed Air presently has an average rating of “Hold” and an average price target of $40.55.

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.

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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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