UBS Asset Management Americas Inc. cut its stake in shares of Bemis Co. (NYSE:BMS) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 94,526 shares of the company’s stock after selling 1,583 shares during the period. UBS Asset Management Americas Inc. owned 0.10% of Bemis worth $4,867,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dubuque Bank & Trust Co. purchased a new position in Bemis during the first quarter valued at about $120,000. Opus Capital Group LLC raised its position in Bemis by 0.5% in the second quarter. Opus Capital Group LLC now owns 4,155 shares of the company’s stock valued at $214,000 after buying an additional 19 shares during the last quarter. Magnetar Financial LLC purchased a new position in Bemis during the first quarter valued at about $219,000. TD Asset Management Inc. raised its position in Bemis by 8.8% in the second quarter. TD Asset Management Inc. now owns 4,315 shares of the company’s stock valued at $222,000 after buying an additional 349 shares during the last quarter. Finally, NEXT Financial Group Inc raised its position in Bemis by 107.0% in the second quarter. NEXT Financial Group Inc now owns 4,353 shares of the company’s stock valued at $224,000 after buying an additional 2,250 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.
Shares of Bemis Co. (NYSE:BMS) traded down 0.363% during midday trading on Thursday, reaching $50.755. 260,529 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $51.36 and a 200-day moving average of $51.13. Bemis Co. has a 12-month low of $39.48 and a 12-month high of $54.19. The stock has a market capitalization of $4.81 billion, a P/E ratio of 21.681 and a beta of 0.66.
Bemis (NYSE:BMS) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.67 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. The business earned $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Bemis had a net margin of 5.67% and a return on equity of 19.75%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. Analysts anticipate that Bemis Co. will post $2.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.16 annualized dividend and a yield of 2.28%. Bemis’s payout ratio is currently 49.57%.
Several equities analysts recently issued reports on the stock. Jefferies Group boosted their target price on shares of Bemis from $44.00 to $48.00 and gave the company a “hold” rating in a report on Thursday, July 14th. BMO Capital Markets restated a “hold” rating on shares of Bemis in a report on Friday, June 10th. Goldman Sachs Group Inc. reaffirmed a “hold” rating on shares of Bemis in a research note on Thursday, June 2nd. FIX started coverage on shares of Bemis in a research note on Thursday, July 28th. They issued a “reduce” rating and a $28.00 price target for the company. Finally, Citigroup Inc. lifted their price target on shares of Bemis from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. Bemis has a consensus rating of “Hold” and an average price target of $49.75.
Bemis Company Profile
Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two business segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents food, consumer and industrial products packaging-related manufacturing operations in the United States. The U.S. Packaging segment manufactures multilayer polymer, blown and cast film structures to produce packaging sold for food and personal care product applications, as well as non-food applications.
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