Bemis Company, Inc. (BMS) Shares Sold by Citigroup Inc.
Citigroup Inc. reduced its holdings in shares of Bemis Company, Inc. (NYSE:BMS) by 63.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,251 shares of the industrial products company’s stock after selling 45,321 shares during the quarter. Citigroup Inc.’s holdings in Bemis were worth $1,214,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Pinebridge Investments L.P. boosted its stake in shares of Bemis by 15.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 12,004 shares of the industrial products company’s stock worth $555,000 after acquiring an additional 1,614 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Bemis by 12.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 85,917 shares of the industrial products company’s stock worth $3,974,000 after acquiring an additional 9,240 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Bemis by 1.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 73,933 shares of the industrial products company’s stock worth $3,419,000 after acquiring an additional 928 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Bemis during the 2nd quarter worth approximately $194,000. Finally, ProShare Advisors LLC boosted its stake in Bemis by 4.8% in the 2nd quarter. ProShare Advisors LLC now owns 193,584 shares of the industrial products company’s stock valued at $8,953,000 after purchasing an additional 8,782 shares during the period. Institutional investors own 75.65% of the company’s stock.
Several analysts recently issued reports on the company. TheStreet downgraded Bemis from a “b” rating to a “c+” rating in a research note on Thursday, July 27th. Robert W. Baird restated a “hold” rating and issued a $48.00 price target on shares of Bemis in a research note on Friday, September 1st. UBS AG assumed coverage on Bemis in a research note on Tuesday, July 25th. They issued a “buy” rating and a $55.00 price target for the company. Jefferies Group LLC restated a “hold” rating and issued a $44.00 price target (down from $45.00) on shares of Bemis in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded Bemis from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.80.
Bemis Company, Inc. (BMS) opened at 46.37 on Thursday. The firm has a 50-day moving average price of $44.79 and a 200 day moving average price of $45.61. Bemis Company, Inc. has a one year low of $40.60 and a one year high of $51.98. The firm has a market capitalization of $4.21 billion, a PE ratio of 20.92 and a beta of 0.90.
Bemis (NYSE:BMS) last posted its quarterly 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 previous year, the business earned $0.67 earnings per share. Bemis’s revenue was down .9% on a year-over-year basis. Analysts anticipate that Bemis Company, Inc. will post $2.37 EPS for the current fiscal year.
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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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