Teacher Retirement System of Texas raised its position in shares of Bemis Co. (NYSE:BMS) by 13.8% during the second quarter, Holdings Channel reports. The fund owned 13,411 shares of the company’s stock after buying an additional 1,625 shares during the period. Teacher Retirement System of Texas’ holdings in Bemis were worth $691,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI acquired a new position in Bemis during the first quarter worth about $932,000. BNP Paribas Arbitrage SA increased its position in Bemis by 53.6% in the second quarter. BNP Paribas Arbitrage SA now owns 55,756 shares of the company’s stock worth $2,871,000 after buying an additional 19,455 shares during the last quarter. Norges Bank acquired a new position in Bemis during the fourth quarter worth about $47,223,000. Renaissance Technologies LLC increased its position in Bemis by 36.6% in the first quarter. Renaissance Technologies LLC now owns 857,700 shares of the company’s stock worth $44,412,000 after buying an additional 230,000 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Bemis by 12.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,250,552 shares of the company’s stock worth $168,314,000 after buying an additional 362,058 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.
Shares of Bemis Co. (NYSE:BMS) traded up 0.14% during trading on Friday, hitting $50.69. 146,039 shares of the stock traded hands. The firm has a market cap of $4.80 billion, a P/E ratio of 21.65 and a beta of 0.66. The company has a 50-day moving average of $51.36 and a 200-day moving average of $51.13. Bemis Co. has a 52 week low of $39.48 and a 52 week high of $54.19.
Bemis (NYSE:BMS) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.67 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.67. Bemis had a return on equity of 19.75% and a net margin of 5.67%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm posted $0.67 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Wednesday, August 17th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Monday, August 15th. Bemis’s payout ratio is 49.57%.
A number of research analysts have issued reports on BMS shares. Goldman Sachs Group Inc. restated a “hold” rating on shares of Bemis in a research report on Thursday, June 2nd. Jefferies Group upped their target price on shares of Bemis from $44.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, July 14th. Citigroup Inc. upped their target price on shares of Bemis from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 19th. SunTrust Banks Inc. started coverage on shares of Bemis in a research report on Tuesday, July 12th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Bemis from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Two 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 company. The company has a consensus rating of “Hold” and an average target price 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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