PNC Financial Services Group Inc. decreased its holdings in Bemis Company, Inc. (NYSE:BMS) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 103,515 shares of the industrial products company’s stock after selling 3,743 shares during the period. PNC Financial Services Group Inc. owned approximately 0.11% of Bemis worth $5,030,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Bemis in the 3rd quarter valued at $130,000. Cerebellum GP LLC bought a new position in shares of Bemis in the 3rd quarter valued at $187,000. Cullen Frost Bankers Inc. bought a new position in shares of Bemis in the 3rd quarter valued at $209,000. Private Trust Co. NA bought a new position in shares of Bemis in the 3rd quarter valued at $209,000. Finally, OLD National Bancorp IN bought a new position in shares of Bemis in the 3rd quarter valued at $217,000. Institutional investors own 73.34% of the company’s stock.
BMS has been the topic of several recent analyst reports. UBS Group set a $49.00 price target on Bemis and gave the company a “hold” rating in a research note on Friday, October 26th. Jefferies Financial Group reiterated a “hold” rating and issued a $54.00 price target on shares of Bemis in a research note on Tuesday, August 7th. Barclays reduced their price objective on Bemis from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, October 29th. Royal Bank of Canada upgraded Bemis from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $44.00 to $46.00 in a research report on Wednesday, August 15th. Finally, Zacks Investment Research lowered Bemis from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $49.50.
Shares of BMS stock opened at $48.47 on Wednesday. The firm has a market cap of $4.44 billion, a P/E ratio of 20.28, a PEG ratio of 2.38 and a beta of 0.95. Bemis Company, Inc. has a twelve month low of $40.86 and a twelve month high of $53.00. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.78.
Bemis (NYSE:BMS) last issued its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Bemis had a return on equity of 20.61% and a net margin of 2.72%. Equities research analysts expect that Bemis Company, Inc. will post 2.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Thursday, November 15th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, November 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.56%. Bemis’s dividend payout ratio is currently 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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