Bemis Co. (BMS) Sees Unusually-High Trading Volume
Shares of Bemis Co. (NYSE:BMS) saw strong trading volume on Thursday . 517,689 shares changed hands during mid-day trading, a decline of 12% from the previous session’s volume of 589,958 shares.The stock last traded at $51.39 and had previously closed at $52.22.
A number of analysts have weighed in on the company. Vertical Research cut Bemis from a “hold” rating to a “sell” rating in a research report on Friday, March 18th. BMO Capital Markets cut Bemis from an “outperform” rating to a “market perform” rating and set a $52.00 price target on the stock. in a research report on Wednesday, March 30th. They noted that the move was a valuation call. Vertical Group cut Bemis from a “hold” rating to a “sell” rating in a research report on Sunday, March 20th. Zacks Investment Research upgraded Bemis from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday, April 4th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Bemis in a research report on Thursday, March 10th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $49.91.
The stock’s 50-day moving average price is $50.31 and its 200-day moving average price is $49.19. The firm has a market cap of $4.88 billion and a P/E ratio of 20.76.
Bemis (NYSE:BMS) last released its earnings results on Thursday, April 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.02. The business earned $967.90 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s revenue was down 6.9% on a year-over-year basis. Analysts anticipate that Bemis Co. will post $2.72 earnings per share for the current year.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in Bemis by 2,816.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 27,650 shares of the company’s stock worth $1,236,000 after buying an additional 26,702 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Bemis by 2.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 146,724 shares of the company’s stock worth $6,557,000 after buying an additional 3,891 shares in the last quarter. I.G. Investment Management LTD. boosted its position in Bemis by 0.4% in the fourth quarter. I.G. Investment Management LTD. now owns 460,760 shares of the company’s stock worth $20,591,000 after buying an additional 1,835 shares in the last quarter. Schroder Investment Management Group acquired a new position in Bemis during the fourth quarter worth about $49,633,000. Finally, Principal Financial Group Inc. boosted its position in Bemis by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 309,449 shares of the company’s stock worth $13,829,000 after buying an additional 4,109 shares in the last quarter.
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 manufactures multilayer polymer, blown and cast film structures to produce packaging for food and personal care product applications, as well as non-food applications.
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