Clinton Group Inc. Takes $3.28 Million Position in Bemis Company, Inc. (BMS)
Clinton Group Inc. acquired a new position in shares of Bemis Company, Inc. (NYSE:BMS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 70,997 shares of the industrial products company’s stock, valued at approximately $3,284,000. Clinton Group Inc. owned 0.08% of Bemis as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMS. NEXT Financial Group Inc grew its stake in Bemis by 31.3% during the second quarter. NEXT Financial Group Inc now owns 2,935 shares of the industrial products company’s stock worth $136,000 after buying an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Bemis by 33.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,375 shares of the industrial products company’s stock worth $165,000 after buying an additional 846 shares during the period. Ffcm LLC grew its stake in Bemis by 6.4% during the second quarter. Ffcm LLC now owns 3,962 shares of the industrial products company’s stock worth $183,000 after buying an additional 238 shares during the period. Acrospire Investment Management LLC purchased a new stake in Bemis during the second quarter worth approximately $194,000. Finally, MAI Capital Management purchased a new stake in Bemis during the second quarter worth approximately $223,000. Institutional investors own 75.65% of the company’s stock.
BMS has been the subject of several research reports. BidaskClub upgraded shares of Bemis from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Barclays PLC upgraded shares of Bemis from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $43.00 to $54.00 in a research note on Tuesday, June 27th. Citigroup Inc. reiterated a “hold” rating on shares of Bemis in a research note on Thursday, August 31st. Royal Bank Of Canada reiterated a “sell” rating on shares of Bemis in a research note on Thursday, July 6th. Finally, Bank of America Corporation upgraded shares of Bemis from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $51.00 in a research note on Friday, September 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $48.80.
Shares of Bemis Company, Inc. (BMS) traded up 0.53% on Friday, hitting $45.57. 658,054 shares of the stock traded hands. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 20.55 and a beta of 0.90. Bemis Company, Inc. has a 12-month low of $40.60 and a 12-month high of $51.98. The stock has a 50-day moving average price of $43.45 and a 200 day moving average price of $45.78.
Bemis (NYSE:BMS) last released its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.08). Bemis had a net margin of 5.18% and a return on equity of 18.53%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts anticipate that Bemis Company, Inc. will post $2.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 17th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Tuesday, August 15th. Bemis’s dividend payout ratio is 54.30%.
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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