Alliancebernstein L.P. reduced its position in shares of Bemis Company, Inc. (NYSE:BMS) by 32.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,446 shares of the industrial products company’s stock after selling 224,337 shares during the period. Alliancebernstein L.P. owned about 0.51% of Bemis worth $21,573,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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. 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. 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. Deprince Race & Zollo Inc. lifted its position in shares of Bemis by 8.6% during the second quarter. Deprince Race & Zollo Inc. now owns 763,621 shares of the industrial products company’s stock worth $35,317,000 after purchasing an additional 60,787 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Bemis by 8.3% during the first quarter. Geode Capital Management LLC now owns 727,544 shares of the industrial products company’s stock worth $35,547,000 after purchasing an additional 55,775 shares in the last quarter. 75.65% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. SunTrust Banks, Inc. reissued a “hold” rating and set a $47.00 target price (down from $49.00) on shares of Bemis in a research report on Thursday, September 14th. BidaskClub cut shares of Bemis from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Bank of America Corporation raised shares of Bemis from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $51.00 in a research report on Friday, September 15th. Royal Bank Of Canada reissued a “sell” rating on shares of Bemis in a research report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Bemis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Bemis has a consensus rating of “Hold” and an average target price of $48.80.
Shares of Bemis Company, Inc. (NYSE BMS) opened at 47.94 on Friday. Bemis Company, Inc. has a 12-month low of $40.60 and a 12-month high of $51.98. The company has a 50-day moving average of $43.45 and a 200 day moving average of $45.78. The firm has a market capitalization of $4.35 billion, a PE ratio of 21.62 and a beta of 0.90.
Bemis (NYSE:BMS) last posted 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). Bemis had a net margin of 5.18% and a return on equity of 18.53%. The business 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 company posted $0.67 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. On average, analysts predict that Bemis Company, Inc. will post $2.37 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 17th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.50%. Bemis’s dividend payout ratio is 54.30%.
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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