Acrospire Investment Management LLC Invests $194,000 in Bemis Company, Inc. (BMS)
Acrospire Investment Management LLC bought a new position in shares of Bemis Company, Inc. (NYSE:BMS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,200 shares of the industrial products company’s stock, valued at approximately $194,000. Bemis makes up 0.2% of Acrospire Investment Management LLC’s investment portfolio, making the stock its 26th largest position.
Several other hedge funds also recently made changes to their positions in BMS. BlackRock Inc. lifted its position in shares of Bemis by 4,921.3% during the first quarter. BlackRock Inc. now owns 8,605,872 shares of the industrial products company’s stock worth $420,485,000 after purchasing an additional 8,434,484 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Bemis during the first quarter worth approximately $34,340,000. Marshall Wace North America L.P. lifted its position in shares of Bemis by 1,361.1% during the second quarter. Marshall Wace North America L.P. now owns 666,999 shares of the industrial products company’s stock worth $30,682,000 after purchasing an additional 621,350 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bemis by 5.6% during the first quarter. Vanguard Group Inc. now owns 8,464,812 shares of the industrial products company’s stock worth $413,591,000 after purchasing an additional 445,901 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Bemis by 7.2% during the first quarter. State Street Corp now owns 6,241,068 shares of the industrial products company’s stock worth $304,943,000 after purchasing an additional 419,542 shares in the last quarter. Institutional investors own 75.65% of the company’s stock.
Shares of Bemis Company, Inc. (NYSE BMS) traded up 0.37% during midday trading on Monday, hitting $46.74. 72,333 shares of the stock traded hands. The firm has a 50-day moving average price of $43.18 and a 200-day moving average price of $45.87. The stock has a market capitalization of $4.24 billion, a P/E ratio of 21.08 and a beta of 0.90. Bemis Company, Inc. has a 52 week low of $40.60 and a 52 week high of $51.98.
Bemis (NYSE:BMS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.08). The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. Bemis had a net margin of 5.18% and a return on equity of 18.53%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. On average, equities analysts predict that Bemis Company, Inc. will post $2.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 17th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. Bemis’s dividend payout ratio is currently 54.30%.
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A number of equities research analysts recently weighed in on the stock. Bank of America Corporation raised shares of Bemis from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $46.00 to $51.00 in a research note on Friday. BMO Capital Markets raised shares of Bemis from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $48.00 to $52.00 in a research note on Thursday, June 22nd. Citigroup Inc. reissued a “hold” rating on shares of Bemis in a research note on Thursday, August 31st. TheStreet downgraded shares of Bemis from a “b” rating to a “c+” rating in a research note on Thursday, July 27th. Finally, Barclays PLC raised shares of Bemis from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $43.00 to $54.00 in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $48.80.
Bemis Company Profile
Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents all food, consumer, and industrial products packaging-related manufacturing operations located in the United States. The Global Packaging segment includes all packaging-related manufacturing operations located outside of the United States, as well as global medical device and pharmaceutical packaging-related manufacturing operations.
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