Bank of Nova Scotia lifted its stake in shares of Sealed Air Corp (NYSE:SEE) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,998 shares of the industrial products companys stock after purchasing an additional 8,668 shares during the quarter. Bank of Nova Scotia owned 0.08% of Sealed Air worth $5,519,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Motco bought a new stake in shares of Sealed Air during the 2nd quarter valued at $29,000. Thor Advisors LLC bought a new stake in shares of Sealed Air during the 1st quarter valued at $78,000. Rockefeller Capital Management L.P. bought a new stake in shares of Sealed Air during the 1st quarter valued at $88,000. NumerixS Investment Technologies Inc bought a new stake in shares of Sealed Air during the 1st quarter valued at $90,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Sealed Air by 88.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,216 shares of the industrial products companys stock valued at $102,000 after purchasing an additional 1,037 shares during the period. Institutional investors own 96.58% of the companys stock.

Sealed Air stock opened at $41.26 on Friday. Sealed Air Corp has a 52 week low of $30.22 and a 52 week high of $47.13. The business has a 50-day simple moving average of $41.93 and a 200 day simple moving average of $43.59. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.46 and a beta of 1.08.

Sealed Air (NYSE:SEE) last posted its earnings results on Friday, August 2nd. The industrial products company reported $0.80 EPS for the quarter, topping 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 business had revenue of $1.16 billion during the quarter, compared to analysts expectations of $1.17 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firms revenue was up .5% on a year-over-year basis. Equities research analysts predict that Sealed Air Corp will post 2.78 EPS for the current year.

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

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

Sealed Air Company 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.

Further Reading: Return on Investment (ROI)

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Bank of Nova Scotia Acquires 8,668 Shares of Sealed Air Corp (NYSE:SEE) - TechNewsObserver