Insider Buying Witnessed at 2 Propane Distributors and a Packaging Company

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Sealed Air Corp (NYSE:SEE) was another company that witnessed a high volume of insider trading activity on the buy side last week. Director Kenneth P. Manning bought 4,000 shares on Thursday at a weighted average price of $43.61 and currently holds 130,074 shares. The shares of the manufacturer of protective and specialty packaging for food and consumer goods are up by nearly 1% year-to-date and are trading at an appealing forward price-to-earnings ratio of 16.58, which is slightly below the average of 17.35 for the companies included in the S&P 500. Nearly 42% of the company’s net sales for the nine-month period that ended September 30 were generated in North America, while almost 10% were generated in Latin America. The political and economic conditions in Brazil and Venezuela, currency headwinds and global economic uncertainties have put significant weight on the company’s financial performance this year. Nonetheless, Sealed Air Corporation anticipates net sales of roughly $7.0 billion for 2015, including the impact of foreign currency translations. At the same time, the company raised its adjusted earnings per share guidance for the year to $2.32 from its previous guidance of $2.24-to-$2.28. Andreas Halvorsen’s Viking Global holds an 8.58 million-share position in Sealed Air Corp (NYSE:SEE) as of the end of the third quarter.

AmeriGas Partners L.P. (NYSE:APU) had not witnessed any insider buying activity for more than a year until last week. Vice Chairman John L. Walsh snapped up 3,000 shares on Wednesday and 2,000 shares on Thursday at prices in the range of $34.58-to-$35.82 per share, upping his stake to 12,000 shares. The largest retail propane distributor in the United States has seen its shares drop by 31% thus far in 2015. Approximately 67% of the company’s retail sales are generated during the peak heating season from October through March. Its adjusted net income for fiscal year 2015 totaled $258.6 million, down from $299.3 million reported for fiscal year 2014. This decrease was mainly attributable to the impact of the warmer-than-normal heating season last year. However, the depressed retail volumes were somewhat offset by higher average retail unit margin, which reflected the lower propane prices during fiscal year 2015. It should be mentioned that the shares of AmeriGas Partners are currently trading at very appealing trailing and forward P/E ratios, which might justify the aforementioned insider purchases. The company has a trailing P/E of 16.85, which is below the average of 22.73 for the S&P 500, and a forward P/E ratio of 11.67. Matthew Hulsizer’s Peak6 Capital Management reported owning 46,910 shares of AmeriGas Partners L.P. (NYSE:APU) through the latest round of 13Fs.

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