Bemis Company, Inc. (BMS) Stake Boosted by California Public Employees Retirement System
California Public Employees Retirement System increased its holdings in shares of Bemis Company, Inc. (NYSE:BMS) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,716 shares of the industrial products company’s stock after purchasing an additional 15,103 shares during the period. California Public Employees Retirement System owned approximately 0.31% of Bemis worth $12,792,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in BMS. Cubist Systematic Strategies LLC lifted its stake in Bemis by 262.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 70,801 shares of the industrial products company’s stock valued at $3,226,000 after acquiring an additional 51,247 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Bemis in the 3rd quarter valued at approximately $6,118,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Bemis in the 3rd quarter valued at approximately $1,324,000. Alyeska Investment Group L.P. bought a new stake in Bemis in the 3rd quarter valued at approximately $13,671,000. Finally, PEAK6 Investments L.P. bought a new stake in Bemis in the 3rd quarter valued at approximately $729,000. Institutional investors and hedge funds own 75.87% of the company’s stock.
Several equities research analysts have commented on BMS shares. Citigroup restated a “hold” rating on shares of Bemis in a research note on Thursday, August 31st. Bank of America upgraded Bemis from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $51.00 in a research note on Friday, September 15th. Barclays boosted their target price on Bemis from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. SunTrust Banks restated a “hold” rating and issued a $47.00 target price (down previously from $49.00) on shares of Bemis in a research note on Thursday, September 14th. Finally, KeyCorp restated a “hold” rating on shares of Bemis in a research note on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.60.
Bemis Company, Inc. (NYSE:BMS) opened at $47.49 on Tuesday. The firm has a market capitalization of $4,312.33, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 2.86 and a beta of 0.96. Bemis Company, Inc. has a 1 year low of $40.60 and a 1 year high of $51.98. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.91 and a current ratio of 1.80.
Bemis (NYSE:BMS) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Bemis had a return on equity of 17.83% and a net margin of 4.84%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. sell-side analysts forecast that Bemis Company, Inc. will post 2.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, November 14th. Bemis’s dividend payout ratio (DPR) is 57.14%.
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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