Rs Investment Management Co buys $136.4 Million stake in Sealed Air Corp (SEE)

Sealed Air Corp (SEE) : Rs Investment Management Co scooped up 138,957 additional shares in Sealed Air Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 2,856,143 shares of Sealed Air Corp which is valued at $136.4 Million.Sealed Air Corp makes up approximately 1.36% of Rs Investment Management Co’s portfolio.

Other Hedge Funds, Including , Gareth Morgan Investments Limited Partnership sold out all of its stake in SEE during the most recent quarter. The investment firm sold 93,424 shares of SEE which is valued $4.5 Million. Engineers Gate Manager Lp added SEE to its portfolio by purchasing 23,766 company shares during the most recent quarter which is valued at $1.1 Million. Sealed Air Corp makes up approx 0.09% of Engineers Gate Manager Lp’s portfolio. Old Mutual Global Investors (uk) Ltd. sold out all of its stake in SEE during the most recent quarter. The investment firm sold 437,274 shares of SEE which is valued $20.4 Million. Stephens Inc Ar sold out all of its stake in SEE during the most recent quarter. The investment firm sold 7,350 shares of SEE which is valued $342,584.

Sealed Air Corp opened for trading at $47.64 and hit $48.31 on the upside on Monday, eventually ending the session at $47.95, with a gain of 0.44% or 0.21 points. The heightened volatility saw the trading volume jump to 13,47,687 shares. Company has a market cap of $9,453 M.

On the company’s financial health, Sealed Air Corp reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.47. The company had revenue of $1590.60 million for the quarter, compared to analysts expectations of $1607.31 million. The company’s revenue was down -8.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Investors should note that on Mar 21, 2016, Sealed Air Corp announced a cash dividend of $0.1600. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jun 17, 2016.

Many Wall Street Analysts have commented on Sealed Air Corp. Sealed Air Corp was Resumed by Credit Suisse to “Outperform” on Apr 22, 2016. RBC Capital Mkts Initiated Sealed Air Corp on Feb 19, 2016 to “Outperform”, Price Target of the shares are set at $53.Sealed Air Corp was Upgraded by BofA/Merrill to ” Buy” on Feb 19, 2016.

Sealed Air Corporation is engaged in food safety and security facility hygiene and product protection business. The Company’s segments include Food Care which provides integrated system solutions for retailers and food service operators; Diversey Care which provides integrated system solutions for food safety and security under Diversey brand; Product Care which provides product care solutions to meet cushioning void fill positioning or block-and-bracing and surface protection among others and Other which includes corporate medical applications and new ventures businesses. Its brands include Cryovac packaging technology Diversey and Taski brand cleaning and hygiene solutions Bubble Wrap brand cushioning Jiffy protective mailers and Instapak foam-in-place systems. In addition the Company offers I-Pack system which supports various pick stations and e-Cube system which is an automated packaging solution.

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