LMR Partners LLP lowered its stake in Bemis Co. (NYSE:BMS) by 51.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,901 shares of the company’s stock after selling 8,431 shares during the period. LMR Partners LLP’s holdings in Bemis were worth $407,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Aperio Group LLC raised its stake in Bemis by 9.5% in the first quarter. Aperio Group LLC now owns 32,785 shares of the company’s stock valued at $1,698,000 after buying an additional 2,839 shares during the period. CIBC World Markets Inc. bought a new stake in Bemis during the first quarter valued at approximately $477,000. TIAA CREF Investment Management LLC raised its stake in Bemis by 81.9% in the first quarter. TIAA CREF Investment Management LLC now owns 441,811 shares of the company’s stock valued at $22,877,000 after buying an additional 198,916 shares during the period. Teachers Advisors Inc. raised its stake in Bemis by 77.9% in the first quarter. Teachers Advisors Inc. now owns 138,725 shares of the company’s stock valued at $7,183,000 after buying an additional 60,755 shares during the period. Finally, BlackRock Inc. raised its stake in Bemis by 16.3% in the first quarter. BlackRock Inc. now owns 210,572 shares of the company’s stock valued at $10,904,000 after buying an additional 29,553 shares during the period. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
Bemis Co. (NYSE:BMS) traded up 0.04% during trading on Wednesday, hitting $49.94. The stock had a trading volume of 327,177 shares. Bemis Co. has a 12-month low of $40.76 and a 12-month high of $54.19. The stock’s 50 day moving average price is $51.19 and its 200 day moving average price is $50.97. The firm has a market cap of $4.73 billion, a P/E ratio of 21.33 and a beta of 0.65.
Bemis (NYSE:BMS) last released its earnings results on Thursday, July 28th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. Bemis had a return on equity of 19.75% and a net margin of 5.67%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts anticipate that Bemis Co. will post $2.72 EPS for the current fiscal year.
BMS has been the topic of several analyst reports. Zacks Investment Research lowered Bemis from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. SunTrust Banks Inc. initiated coverage on Bemis in a report on Tuesday, July 12th. They set a “buy” rating and a $60.00 target price on the stock. Jefferies Group raised their target price on Bemis from $44.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. Citigroup Inc. raised their price objective on Bemis from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, July 19th. Finally, FIX began coverage on Bemis in a report on Thursday, July 28th. They issued a “reduce” rating and a $28.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $49.75.
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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