State Board of Administration of Florida Retirement System Decreases Stake in Bemis Company, Inc. (BMS)

State Board of Administration of Florida Retirement System reduced its holdings in shares of Bemis Company, Inc. (NYSE:BMS) by 4.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,584 shares of the industrial products company’s stock after selling 5,610 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Bemis were worth $7,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Bemis in the first quarter valued at about $7,389,000. Texas Permanent School Fund raised its stake in Bemis by 3.9% in the first quarter. Texas Permanent School Fund now owns 61,900 shares of the industrial products company’s stock valued at $3,434,000 after purchasing an additional 2,340 shares in the last quarter. Algert Global LLC acquired a new position in Bemis in the first quarter valued at about $200,000. Moors & Cabot Inc. bought a new position in Bemis in the first quarter valued at about $284,000. Finally, Janus Henderson Group PLC bought a new position in Bemis in the first quarter valued at about $1,263,000. 73.45% of the stock is owned by institutional investors.

A number of research analysts have issued reports on BMS shares. Zacks Investment Research cut Bemis from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. BMO Capital Markets cut Bemis from an “outperform” rating to a “market perform” rating in a research report on Sunday, April 7th. Barclays reiterated a “buy” rating on shares of Bemis in a research report on Tuesday, January 29th. Finally, ValuEngine upgraded Bemis from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Bemis has an average rating of “Hold” and an average price target of $52.71.

Bemis stock opened at $58.12 on Wednesday. Bemis Company, Inc. has a 12-month low of $40.86 and a 12-month high of $59.85. The company has a current ratio of 1.93, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.65 and a beta of 0.91.

Bemis (NYSE:BMS) last released its earnings results on Monday, April 22nd. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. Bemis had a return on equity of 21.46% and a net margin of 5.62%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Bemis Company, Inc. will post 2.99 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, April 26th. Bemis’s dividend payout ratio is presently 45.88%.

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Bemis Profile

Bemis Company, Inc manufactures and sells packaging products in the United States, Brazil, other Americas, Europe, and the Asia-Pacific. It operates through three segments: U.S. Packaging, Latin America Packaging, and Rest of World Packaging. The company offers multilayer polymer, blown, and cast film structures; and injection molded and thermoformed plastic packaging products.

See Also: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Bemis (NYSE:BMS)

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