Burney Co. lowered its stake in Bemis Company, Inc. (NYSE:BMS) by 7.9% during the second quarter, HoldingsChannel.com reports. The firm owned 14,828 shares of the industrial products company’s stock after selling 1,270 shares during the period. Burney Co.’s holdings in Bemis were worth $626,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of BMS. Farallon Capital Management LLC increased its position in shares of Bemis by 837.5% in the first quarter. Farallon Capital Management LLC now owns 562,500 shares of the industrial products company’s stock worth $24,480,000 after purchasing an additional 502,500 shares during the period. Deprince Race & Zollo Inc. increased its position in shares of Bemis by 27.1% in the second quarter. Deprince Race & Zollo Inc. now owns 2,130,269 shares of the industrial products company’s stock worth $89,919,000 after purchasing an additional 454,372 shares during the period. American Century Companies Inc. increased its position in shares of Bemis by 6.0% in the second quarter. American Century Companies Inc. now owns 6,167,279 shares of the industrial products company’s stock worth $260,321,000 after purchasing an additional 350,833 shares during the period. Russell Investments Group Ltd. increased its position in shares of Bemis by 101.5% in the second quarter. Russell Investments Group Ltd. now owns 682,190 shares of the industrial products company’s stock worth $28,791,000 after purchasing an additional 343,702 shares during the period. Finally, BlackRock Inc. increased its position in shares of Bemis by 3.2% in the first quarter. BlackRock Inc. now owns 8,116,114 shares of the industrial products company’s stock worth $353,213,000 after purchasing an additional 251,337 shares during the period. Institutional investors own 77.35% of the company’s stock.
BMS has been the topic of a number of recent analyst reports. Royal Bank of Canada upgraded Bemis from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $44.00 to $46.00 in a research report on Wednesday, August 15th. ValuEngine upgraded Bemis from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. UBS Group cut Bemis from a “buy” rating to a “neutral” rating and set a $54.00 target price on the stock. in a research report on Tuesday, August 7th. Robert W. Baird reiterated a “hold” rating and issued a $57.00 target price (up previously from $48.00) on shares of Bemis in a research report on Monday, August 6th. Finally, Barclays lifted their target price on Bemis from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.30.
Bemis stock opened at $50.34 on Friday. Bemis Company, Inc. has a 12-month low of $40.86 and a 12-month high of $53.00. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90.
Bemis (NYSE:BMS) last released its earnings results on Thursday, July 26th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.07. Bemis had a return on equity of 19.70% and a net margin of 2.66%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. equities analysts anticipate that Bemis Company, Inc. will post 2.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Thursday, August 16th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Wednesday, August 15th. Bemis’s dividend payout ratio (DPR) is currently 51.88%.
Bemis Company Profile
Bemis Company, Inc manufactures and sells packaging products in the United States, Brazil, other Americas, Europe, and the Asia-Pacific. It operates through three segments: U.S. Packaging, Latin America Packaging, and Rest of World Packaging. The company offers multilayer polymer, blown, and cast film structures; and injection molded plastic, thermoformed plastic, and folding carton packaging products.
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