Aperio Group LLC decreased its stake in Bemis Company, Inc. (NYSE:BMS) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,310 shares of the industrial products company’s stock after selling 2,422 shares during the quarter. Aperio Group LLC’s holdings in Bemis were worth $2,202,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Starboard Value LP raised its position in Bemis by 48.7% in the 2nd quarter. Starboard Value LP now owns 2,959,487 shares of the industrial products company’s stock valued at $124,920,000 after purchasing an additional 969,737 shares during the last quarter. Natixis bought a new position in Bemis in the 2nd quarter valued at $1,162,000. BlackRock Inc. raised its position in Bemis by 2.6% in the 2nd quarter. BlackRock Inc. now owns 8,323,221 shares of the industrial products company’s stock valued at $351,323,000 after purchasing an additional 207,107 shares during the last quarter. Northern Trust Corp raised its position in Bemis by 0.3% in the 2nd quarter. Northern Trust Corp now owns 876,900 shares of the industrial products company’s stock valued at $37,015,000 after purchasing an additional 2,638 shares during the last quarter. Finally, North Star Asset Management Inc. raised its position in Bemis by 2.0% in the 2nd quarter. North Star Asset Management Inc. now owns 675,979 shares of the industrial products company’s stock valued at $28,533,000 after purchasing an additional 13,150 shares during the last quarter. 76.51% of the stock is currently owned by institutional investors and hedge funds.
BMS stock opened at $48.23 on Friday. The firm has a market cap of $4.30 billion, a PE ratio of 20.18, a PEG ratio of 2.30 and a beta of 0.92. Bemis Company, Inc. has a twelve month low of $40.86 and a twelve month high of $53.00. The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 1.21.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.57%. Bemis’s payout ratio is currently 51.88%.
Several brokerages have issued reports on BMS. Royal Bank of Canada upgraded Bemis from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $44.00 to $46.00 in a research report on Wednesday, August 15th. UBS Group downgraded Bemis from a “buy” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research report on Tuesday, August 7th. Robert W. Baird restated a “hold” rating and set a $57.00 target price (up previously from $48.00) on shares of Bemis in a research report on Monday, August 6th. ValuEngine upgraded Bemis from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Barclays boosted their target price on Bemis from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $49.50.
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Bemis Company, Inc manufactures and sells packaging products in the United States, Brazil, other Americas, Europe, and the Asia-Pacific. It operates through three segments: U.S. Packaging, Latin America Packaging, and Rest of World Packaging. The company offers multilayer polymer, blown, and cast film structures; and injection molded plastic, thermoformed plastic, and folding carton packaging products.
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