Los Angeles Capital Management & Equity Research Inc. boosted its stake in Bemis Company, Inc. (NYSE:BMS) by 355.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 481,007 shares of the industrial products company’s stock after buying an additional 375,450 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.52% of Bemis Company worth $23,502,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its position in Bemis Company by 0.4% in the first quarter. Louisiana State Employees Retirement System now owns 23,300 shares of the industrial products company’s stock valued at $1,138,000 after buying an additional 100 shares during the last quarter. Creative Planning increased its position in Bemis Company by 1.0% in the first quarter. Creative Planning now owns 12,488 shares of the industrial products company’s stock valued at $610,000 after buying an additional 122 shares during the last quarter. World Asset Management Inc increased its position in Bemis Company by 1.9% in the first quarter. World Asset Management Inc now owns 6,687 shares of the industrial products company’s stock valued at $327,000 after buying an additional 124 shares during the last quarter. Ffcm LLC increased its position in Bemis Company by 4.3% in the first quarter. Ffcm LLC now owns 3,724 shares of the industrial products company’s stock valued at $182,000 after buying an additional 154 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI increased its position in Bemis Company by 0.7% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 43,013 shares of the industrial products company’s stock valued at $2,057,000 after buying an additional 284 shares during the last quarter. Institutional investors own 77.77% of the company’s stock.
Shares of Bemis Company, Inc. (NYSE:BMS) traded up 0.11% during mid-day trading on Friday, hitting $43.81. The stock had a trading volume of 607,077 shares. The stock’s 50-day moving average is $46.74 and its 200 day moving average is $48.56. Bemis Company, Inc. has a 12 month low of $43.13 and a 12 month high of $53.32. The company has a market cap of $4.03 billion, a PE ratio of 17.94 and a beta of 0.90.
Bemis Company (NYSE:BMS) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.07. The company had revenue of $995.40 million during the quarter, compared to the consensus estimate of $996.21 million. Bemis Company had a net margin of 5.90% and a return on equity of 20.33%. Bemis Company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. On average, equities research analysts forecast that Bemis Company, Inc. will post $2.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Wednesday, May 17th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Monday, May 15th. Bemis Company’s payout ratio is 46.77%.
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Several research analysts have commented on the company. Zacks Investment Research downgraded Bemis Company from a “hold” rating to a “sell” rating in a research note on Tuesday, March 28th. Citigroup Inc restated a “buy” rating on shares of Bemis Company in a research note on Friday, April 14th. Credit Suisse Group AG restated a “hold” rating and issued a $48.00 target price on shares of Bemis Company in a research note on Friday, April 28th. Barclays PLC restated a “hold” rating and issued a $43.00 target price on shares of Bemis Company in a research note on Tuesday, May 2nd. Finally, Royal Bank of Canada cut their target price on Bemis Company from $46.00 to $41.00 and set an “underperform” rating for the company in a research note on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $46.45.
In other news, insider James W. Ransom sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $49.21, for a total value of $984,200.00. Following the completion of the sale, the insider now directly owns 75,401 shares of the company’s stock, valued at approximately $3,710,483.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
About Bemis Company
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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