Harvest Management LLC bought a new stake in shares of Bemis Company, Inc. (NYSE:BMS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,800 shares of the industrial products company’s stock, valued at approximately $525,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in shares of Bemis by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,415 shares of the industrial products company’s stock valued at $1,495,000 after acquiring an additional 1,023 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Bemis by 3.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 28,009 shares of the industrial products company’s stock valued at $1,182,000 after acquiring an additional 1,042 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Bemis by 24.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,481 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 1,075 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Bemis by 10.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,660 shares of the industrial products company’s stock valued at $534,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Bemis by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 64,625 shares of the industrial products company’s stock valued at $3,141,000 after acquiring an additional 1,462 shares during the last quarter. Hedge funds and other institutional investors own 76.51% of the company’s stock.
A number of research firms have recently commented on BMS. Barclays lowered their target price on Bemis from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, October 29th. UBS Group set a $49.00 target price on Bemis and gave the company a “hold” rating in a research report on Friday, October 26th. Zacks Investment Research downgraded Bemis from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Royal Bank of Canada upgraded Bemis from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $44.00 to $46.00 in a research report on Wednesday, August 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $54.00 target price on shares of Bemis in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.50.
Bemis (NYSE:BMS) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. Bemis had a return on equity of 20.61% and a net margin of 2.72%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Sell-side analysts forecast that Bemis Company, Inc. will post 2.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 15th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.24 annualized dividend and a yield of 2.58%. Bemis’s payout ratio is presently 51.88%.
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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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