Retirement Systems of Alabama reduced its position in Bemis Company, Inc. (NYSE:BMS) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 235,574 shares of the industrial products company’s stock after selling 815 shares during the period. Retirement Systems of Alabama’s holdings in Bemis were worth $10,895,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Bemis by 4,921.3% in the first quarter. BlackRock Inc. now owns 8,605,872 shares of the industrial products company’s stock valued at $420,485,000 after buying an additional 8,434,484 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Bemis by 5.6% in the first quarter. Vanguard Group Inc. now owns 8,464,812 shares of the industrial products company’s stock valued at $413,591,000 after buying an additional 445,901 shares during the last quarter. State Street Corp boosted its stake in shares of Bemis by 7.2% in the first quarter. State Street Corp now owns 6,241,068 shares of the industrial products company’s stock valued at $304,943,000 after buying an additional 419,542 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Bemis by 41.6% in the first quarter. American Century Companies Inc. now owns 6,165,677 shares of the industrial products company’s stock valued at $301,255,000 after buying an additional 1,811,549 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Bemis by 42.9% in the first quarter. Wells Fargo & Company MN now owns 1,325,238 shares of the industrial products company’s stock valued at $64,750,000 after buying an additional 397,638 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.
Bemis Company, Inc. (NYSE BMS) opened at 41.58 on Friday. Bemis Company, Inc. has a 12-month low of $41.54 and a 12-month high of $53.10. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 18.76 and a beta of 0.90. The stock’s 50 day moving average is $45.19 and its 200 day moving average is $46.89.
Bemis (NYSE:BMS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.08. Bemis had a return on equity of 18.53% and a net margin of 5.18%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $0.67 earnings per share. Bemis’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts forecast that Bemis Company, Inc. will post $2.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Tuesday, August 15th. Bemis’s dividend payout ratio is presently 54.30%.
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Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Bemis from a “sell” rating to a “hold” rating in a research note on Monday, April 17th. Barclays PLC lifted their price objective on shares of Bemis from $43.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. BMO Capital Markets restated a “hold” rating and set a $48.00 price objective on shares of Bemis in a research note on Friday, June 2nd. TheStreet cut shares of Bemis from a “b” rating to a “c+” rating in a research note on Thursday, July 27th. Finally, UBS AG assumed coverage on shares of Bemis in a research note on Tuesday, July 25th. They set a “buy” rating and a $55.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Bemis currently has a consensus rating of “Hold” and a consensus target price of $49.44.
Bemis Company Profile
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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