Bemis Co. (BMS) Sees Strong Trading Volume
Bemis Co. (NYSE:BMS) saw unusually-high trading volume on Thursday . Approximately 517,689 shares were traded during 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.
BMS has been the subject of a number of research reports. Goldman Sachs Group Inc. initiated coverage on shares of Bemis in a research note on Thursday, May 12th. They set a “neutral” rating and a $53.00 target price for the company. BMO Capital Markets restated a “hold” rating on shares of Bemis in a research note on Monday, May 2nd. Zacks Investment Research lowered Bemis from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Vertical Group upgraded Bemis from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, Deutsche Bank AG restated a “hold” rating on shares of Bemis in a research note on Wednesday, May 18th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Bemis currently has an average rating of “Hold” and an average target price of $49.91.
The company’s 50-day moving average is $50.42 and its 200-day moving average is $49.25. The company has a market capitalization of $4.91 billion and a price-to-earnings ratio of 20.89.
Bemis (NYSE:BMS) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm had revenue of $967.90 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.61 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, analysts forecast that Bemis Co. will post $2.72 earnings per share for the current fiscal year.
Several large investors recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Bemis by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 8,516,549 shares of the company’s stock valued at $380,604,000 after buying an additional 240,749 shares during the last quarter. Schroder Investment Management Group bought a new stake in Bemis during the fourth quarter valued at approximately $49,633,000. I.G. Investment Management LTD. boosted its position in shares of Bemis by 0.4% in the fourth quarter. I.G. Investment Management LTD. now owns 460,760 shares of the company’s stock valued at $20,591,000 after buying an additional 1,835 shares during the period. Wells Fargo & Company MN boosted its position in shares of Bemis by 4.8% in the fourth quarter. Wells Fargo & Company MN now owns 415,851 shares of the company’s stock valued at $18,584,000 after buying an additional 18,891 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Bemis by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 309,449 shares of the company’s stock valued at $13,829,000 after buying an additional 4,109 shares during the period.
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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