Stone Ridge Asset Management LLC purchased a new stake in Bemis Company, Inc. (NYSE:BMS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 42,859 shares of the industrial products company’s stock, valued at approximately $2,048,000.
A number of other hedge funds and other institutional investors have also modified their holdings of BMS. North Star Asset Management Inc. lifted its holdings in Bemis by 3,385.8% in the 4th quarter. North Star Asset Management Inc. now owns 662,829 shares of the industrial products company’s stock valued at $31,677,000 after acquiring an additional 643,814 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in Bemis by 93.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,315,591 shares of the industrial products company’s stock valued at $62,872,000 after acquiring an additional 636,623 shares during the last quarter. AXA lifted its holdings in Bemis by 1,038.3% in the 4th quarter. AXA now owns 368,824 shares of the industrial products company’s stock valued at $17,626,000 after acquiring an additional 336,424 shares during the last quarter. American Century Companies Inc. lifted its holdings in Bemis by 6.9% in the 4th quarter. American Century Companies Inc. now owns 5,140,905 shares of the industrial products company’s stock valued at $245,684,000 after acquiring an additional 330,277 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Bemis in the 3rd quarter valued at about $13,671,000. 77.54% of the stock is owned by institutional investors.
A number of brokerages have weighed in on BMS. TheStreet downgraded shares of Bemis from a “b-” rating to a “c” rating in a report on Thursday, February 1st. Bank of America upped their price objective on shares of Bemis from $52.00 to $53.00 and gave the company an “underperform” rating in a research note on Friday, February 2nd. Credit Suisse Group upped their price objective on shares of Bemis from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. SunTrust Banks reaffirmed a “hold” rating and set a $46.00 price objective on shares of Bemis in a research note on Wednesday, January 31st. Finally, Zacks Investment Research lowered shares of Bemis from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.40.
Bemis (NYSE:BMS) last issued its earnings results on Thursday, February 1st. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $978.34 million. Bemis had a return on equity of 17.52% and a net margin of 2.32%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. sell-side analysts forecast that Bemis Company, Inc. will post 2.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Bemis’s dividend payout ratio is 121.57%.
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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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