Bemis Co. (BMS) Sees Unusually-High Trading Volume
Shares of Bemis Co. (NYSE:BMS) saw strong trading volume on Monday . 650,392 shares changed hands during mid-day trading, a decline of 20% from the previous session’s volume of 816,152 shares.The stock last traded at $52.62 and had previously closed at $53.09.
Several research analysts recently commented on the company. Barclays PLC raised their target price on Bemis from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, May 2nd. BMO Capital Markets reaffirmed a “hold” rating on shares of Bemis in a research report on Monday, May 2nd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bemis in a research report on Wednesday, May 18th. Vertical Group raised Bemis from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Finally, Goldman Sachs Group Inc. began coverage on Bemis in a report on Thursday, May 12th. They set a “neutral” rating and a $53.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $51.25.
The company has a 50 day moving average price of $51.00 and a 200 day moving average price of $49.60. The stock has a market capitalization of $5.02 billion and a PE ratio of 21.36.
Bemis (NYSE:BMS) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $0.61 earnings per share. Bemis’s quarterly revenue was down 6.9% on a year-over-year basis. Equities research analysts anticipate that Bemis Co. will post $2.72 EPS for the current year.
A number of hedge funds and institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of Bemis by 1.0% in the fourth quarter. Rhumbline Advisers now owns 156,081 shares of the company’s stock worth $6,975,000 after buying an additional 1,545 shares in the last quarter. I.G. Investment Management LTD. raised 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 worth $20,591,000 after buying an additional 1,835 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of 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. Principal Financial Group Inc. raised 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 worth $13,829,000 after buying an additional 4,109 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Bemis by 4.7% in the fourth quarter. First Trust Advisors LP now owns 282,680 shares of the company’s stock worth $12,633,000 after buying an additional 12,637 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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