BlackRock Inc. Lowers Holdings in Bemis Company, Inc. (BMS)
BlackRock Inc. cut its position in Bemis Company, Inc. (NYSE:BMS) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,394,532 shares of the industrial products company’s stock after selling 211,340 shares during the quarter. BlackRock Inc. owned about 9.24% of Bemis worth $388,247,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Nationwide Fund Advisors raised its stake in shares of Bemis by 3.8% in the second quarter. Nationwide Fund Advisors now owns 272,931 shares of the industrial products company’s stock valued at $12,623,000 after buying an additional 9,918 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Bemis by 19.5% in the second quarter. Ameriprise Financial Inc. now owns 490,459 shares of the industrial products company’s stock valued at $22,684,000 after buying an additional 80,069 shares during the period. Teachers Advisors LLC raised its stake in shares of Bemis by 0.9% in the second quarter. Teachers Advisors LLC now owns 107,621 shares of the industrial products company’s stock valued at $4,977,000 after buying an additional 951 shares during the period. Seven Eight Capital LP bought a new stake in shares of Bemis in the second quarter valued at $468,000. Finally, Stephens Inc. AR raised its stake in shares of Bemis by 30.3% in the second quarter. Stephens Inc. AR now owns 8,207 shares of the industrial products company’s stock valued at $380,000 after buying an additional 1,909 shares during the period. Hedge funds and other institutional investors own 75.65% of the company’s stock.
BMS has been the topic of several research reports. Bank of America Corporation upgraded Bemis from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $51.00 in a research note on Friday, September 15th. BMO Capital Markets upgraded Bemis from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $52.00 in a research note on Thursday, June 22nd. Citigroup Inc. reiterated a “hold” rating on shares of Bemis in a research note on Thursday, August 31st. TheStreet lowered Bemis from a “b” rating to a “c+” rating in a research note on Thursday, July 27th. Finally, Barclays PLC upgraded Bemis from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company 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 issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.80.
Shares of Bemis Company, Inc. (NYSE:BMS) opened at 45.67 on Thursday. The company’s 50 day moving average price is $43.45 and its 200-day moving average price is $45.78. Bemis Company, Inc. has a 1-year low of $40.60 and a 1-year high of $51.98. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 20.60 and a beta of 0.90.
Bemis (NYSE:BMS) last announced its earnings results on Thursday, July 27th. The industrial products company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.08). Bemis had a return on equity of 18.53% and a net margin of 5.18%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $0.67 earnings per share. Bemis’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts forecast that Bemis Company, Inc. will post $2.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 17th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.54%. Bemis’s dividend payout ratio is currently 54.30%.
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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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