1,219,595 Shares in Bemis Company, Inc. (BMS) Purchased by Norges Bank
Norges Bank acquired a new position in Bemis Company, Inc. (NYSE:BMS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,219,595 shares of the industrial products company’s stock, valued at approximately $55,979,000. Norges Bank owned approximately 1.34% of Bemis at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of BMS. MML Investors Services LLC acquired a new stake in shares of Bemis in the 3rd quarter worth $233,000. Panagora Asset Management Inc. boosted its position in shares of Bemis by 241.5% in the 3rd quarter. Panagora Asset Management Inc. now owns 15,491 shares of the industrial products company’s stock worth $753,000 after purchasing an additional 10,955 shares in the last quarter. AMP Capital Investors Ltd acquired a new stake in shares of Bemis in the 3rd quarter worth $582,000. Tower Research Capital LLC TRC boosted its position in shares of Bemis by 740.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,527 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 7,512 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Bemis by 18.4% in the 3rd quarter. Renaissance Technologies LLC now owns 481,400 shares of the industrial products company’s stock worth $23,396,000 after purchasing an additional 74,900 shares in the last quarter. 73.28% of the stock is owned by hedge funds and other institutional investors.
BMS has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Bemis from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, January 7th. Barclays reissued a “buy” rating on shares of Bemis in a research report on Tuesday, January 29th. BMO Capital Markets lowered Bemis from an “outperform” rating to a “market perform” rating in a research note on Sunday. ValuEngine upgraded Bemis from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Finally, Zacks Investment Research upgraded Bemis from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.71.
Bemis (NYSE:BMS) last issued its earnings results on Thursday, January 31st. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.71. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $980.04 million. Bemis had a return on equity of 21.20% and a net margin of 5.27%. Analysts forecast that Bemis Company, Inc. will post 2.99 EPS for the current fiscal year.
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Bemis Company Profile
Bemis Company, Inc manufactures and sells packaging products in the United States, Brazil, other Americas, Europe, and the Asia-Pacific. It operates through three segments: U.S. Packaging, Latin America Packaging, and Rest of World Packaging. The company offers multilayer polymer, blown, and cast film structures; and injection molded and thermoformed plastic packaging products.
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