PGGM Investments raised its position in shares of Bemis Co. (NYSE:BMS) by 87.7% during the second quarter, Holdings Channel reports. The institutional investor owned 144,530 shares of the company’s stock after buying an additional 67,522 shares during the period. PGGM Investments’ holdings in Bemis were worth $7,442,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Albert D Mason Inc. boosted its position in Bemis by 0.3% in the second quarter. Albert D Mason Inc. now owns 54,448 shares of the company’s stock worth $2,804,000 after buying an additional 160 shares in the last quarter. Raymond James Trust N.A. boosted its position in Bemis by 4.4% in the second quarter. Raymond James Trust N.A. now owns 6,614 shares of the company’s stock worth $340,000 after buying an additional 280 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Bemis by 0.3% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 164,522 shares of the company’s stock worth $8,471,000 after buying an additional 542 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Bemis by 4.1% in the first quarter. Envestnet Asset Management Inc. now owns 16,668 shares of the company’s stock worth $863,000 after buying an additional 654 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in Bemis by 1.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 86,382 shares of the company’s stock worth $4,473,000 after buying an additional 1,332 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.
Bemis Co. (NYSE:BMS) traded up 0.77% during trading on Friday, reaching $51.01. The company had a trading volume of 694,901 shares. Bemis Co. has a 52-week low of $40.06 and a 52-week high of $54.19. The company has a market capitalization of $4.83 billion, a PE ratio of 21.79 and a beta of 0.66. The stock has a 50 day moving average price of $51.39 and a 200-day moving average price of $51.12.
Bemis (NYSE:BMS) last announced its earnings results on Thursday, July 28th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.67. Bemis had a net margin of 5.67% and a return on equity of 19.75%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $0.67 earnings per share. Bemis’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts anticipate that Bemis Co. will post $2.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th were issued a $0.29 dividend. The ex-dividend date was Monday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.27%. Bemis’s dividend payout ratio (DPR) is presently 49.57%.
A number of research analysts recently commented on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $52.00 price objective on shares of Bemis in a report on Tuesday, August 2nd. FIX assumed coverage on Bemis in a research report on Thursday, July 28th. They issued a “reduce” rating and a $28.00 target price on the stock. Jefferies Group cut their target price on Bemis from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, August 1st. SunTrust Banks Inc. assumed coverage on Bemis in a research report on Tuesday, July 12th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Zacks Investment Research lowered Bemis from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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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