Utah Retirement Systems decreased its position in shares of Bemis Company, Inc. (NYSE:BMS) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,645 shares of the industrial products company’s stock after selling 500 shares during the quarter. Utah Retirement Systems’ holdings in Bemis were worth $770,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of BMS. Prudential Financial Inc. grew its holdings in shares of Bemis by 1.1% during the second quarter. Prudential Financial Inc. now owns 77,795 shares of the industrial products company’s stock worth $3,598,000 after buying an additional 880 shares during the last quarter. MAI Capital Management acquired a new stake in Bemis in the second quarter valued at about $223,000. Federated Investors Inc. PA lifted its position in Bemis by 17.9% in the second quarter. Federated Investors Inc. PA now owns 46,617 shares of the industrial products company’s stock valued at $2,156,000 after purchasing an additional 7,081 shares during the period. Cadence Capital Management LLC lifted its position in Bemis by 3.2% in the second quarter. Cadence Capital Management LLC now owns 12,494 shares of the industrial products company’s stock valued at $578,000 after purchasing an additional 388 shares during the period. Finally, Marshall Wace North America L.P. lifted its position in Bemis by 1,361.1% in the second quarter. Marshall Wace North America L.P. now owns 666,999 shares of the industrial products company’s stock valued at $30,682,000 after purchasing an additional 621,350 shares during the period. 75.74% of the stock is currently owned by institutional investors.
BMS has been the subject of a number of research reports. Jefferies Group LLC reiterated a “hold” rating and set a $44.00 price target (down from $45.00) on shares of Bemis in a research report on Tuesday, August 1st. Royal Bank Of Canada restated a “sell” rating on shares of Bemis in a research report on Thursday, July 6th. Robert W. Baird reaffirmed a “hold” rating and issued a $48.00 target price on shares of Bemis in a research note on Friday, September 1st. BidaskClub raised shares of Bemis from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, UBS AG began coverage on shares of Bemis in a research note on Tuesday, July 25th. They issued a “buy” rating and a $55.00 target price for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.30.
Shares of Bemis Company, Inc. (NYSE BMS) opened at 47.88 on Tuesday. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 21.60 and a beta of 0.90. The company’s 50-day moving average is $42.88 and its 200 day moving average is $45.88. Bemis Company, Inc. has a 1-year low of $40.60 and a 1-year high of $51.98.
Bemis (NYSE:BMS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.48 EPS for the quarter, missing the 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts expect that Bemis Company, Inc. will post $2.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 17th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Tuesday, August 15th. Bemis’s payout ratio is currently 54.30%.
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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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