NGAM Advisors L.P. Sells 44,306 Shares of Bemis Company, Inc. (NYSE:BMS)
NGAM Advisors L.P. lowered its stake in shares of Bemis Company, Inc. (NYSE:BMS) by 41.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,898 shares of the industrial products company’s stock after selling 44,306 shares during the period. NGAM Advisors L.P.’s holdings in Bemis were worth $2,909,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in Bemis by 6.3% in the first quarter. Prudential Financial Inc. now owns 76,915 shares of the industrial products company’s stock valued at $3,758,000 after buying an additional 4,540 shares during the period. Pacer Advisors Inc. increased its stake in Bemis by 14.0% in the first quarter. Pacer Advisors Inc. now owns 11,842 shares of the industrial products company’s stock valued at $579,000 after buying an additional 1,450 shares during the period. ProShare Advisors LLC increased its stake in Bemis by 35.1% in the first quarter. ProShare Advisors LLC now owns 184,802 shares of the industrial products company’s stock valued at $9,029,000 after buying an additional 47,997 shares during the period. Dean Investment Associates LLC increased its stake in Bemis by 31.4% in the first quarter. Dean Investment Associates LLC now owns 14,507 shares of the industrial products company’s stock valued at $709,000 after buying an additional 3,469 shares during the period. Finally, Burney Co. acquired a new stake in Bemis during the first quarter valued at approximately $213,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bemis Company, Inc. (BMS) opened at 41.58 on Friday. The stock has a 50 day moving average of $45.19 and a 200-day moving average of $46.89. Bemis Company, Inc. has a one year low of $41.54 and a one year high of $53.10. The stock has a market capitalization of $3.78 billion, a P/E ratio of 18.76 and a beta of 0.90.
Bemis (NYSE:BMS) last released its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.08. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Bemis had a net margin of 5.18% and a return on equity of 18.53%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 earnings per share. Equities analysts forecast that Bemis Company, Inc. will post $2.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.89%. Bemis’s dividend payout ratio is currently 54.30%.
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BMS has been the topic of several recent research reports. Deutsche Bank AG dropped their price objective on shares of Bemis from $52.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Jefferies Group LLC dropped their price objective on shares of Bemis from $46.00 to $40.00 and set a “hold” rating on the stock in a report on Tuesday, May 2nd. SunTrust Banks, Inc. downgraded shares of Bemis from a “buy” rating to a “hold” rating and dropped their price objective for the company from $55.00 to $49.00 in a report on Friday, April 28th. Zacks Investment Research raised shares of Bemis from a “sell” rating to a “hold” rating in a report on Monday, April 17th. Finally, Barclays PLC upped their price objective on shares of Bemis from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Bemis has an average rating of “Hold” and a consensus price target of $49.44.
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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