OLD National Bancorp IN Continues to Hold Position in Bemis Company, Inc. (BMS)

OLD National Bancorp IN Continues to Hold Position in Bemis Company, Inc. (BMS)

OLD National Bancorp IN maintained its stake in shares of Bemis Company, Inc. (NYSE:BMS) during the first quarter, Holdings Channel reports. The fund owned 8,756 shares of the industrial products company’s stock at the end of the first quarter. OLD National Bancorp IN’s holdings in Bemis Company were worth $428,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. Great West Life Assurance Co. Can raised its stake in shares of Bemis Company by 2.5% in the first quarter. Great West Life Assurance Co. Can now owns 71,707 shares of the industrial products company’s stock worth $3,501,000 after buying an additional 1,739 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Bemis Company during the first quarter worth approximately $116,000. Wells Fargo & Company MN raised its stake in shares of Bemis Company by 42.9% in the first quarter. Wells Fargo & Company MN now owns 1,325,238 shares of the industrial products company’s stock worth $64,750,000 after buying an additional 397,638 shares in the last quarter. BB&T Corp raised its stake in shares of Bemis Company by 6.7% in the first quarter. BB&T Corp now owns 53,166 shares of the industrial products company’s stock worth $2,598,000 after buying an additional 3,349 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Bemis Company by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 33,563 shares of the industrial products company’s stock worth $1,640,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 77.77% of the company’s stock.

Bemis Company, Inc. (NYSE:BMS) traded up 0.84% during midday trading on Friday, reaching $45.38. The company’s stock had a trading volume of 862,103 shares. The stock’s 50 day moving average is $48.05 and its 200 day moving average is $48.95. The stock has a market cap of $4.17 billion, a P/E ratio of 18.58 and a beta of 0.90. Bemis Company, Inc. has a 12-month low of $44.07 and a 12-month high of $53.32.

Bemis Company (NYSE:BMS) last announced its earnings results on Thursday, April 27th. The industrial products company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.07. Bemis Company had a net margin of 5.90% and a return on equity of 20.33%. The company earned $995.40 million during the quarter, compared to analysts’ expectations of $996.21 million. During the same quarter last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts anticipate that Bemis Company, Inc. will post $2.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Wednesday, May 17th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. Bemis Company’s dividend payout ratio (DPR) is currently 46.77%.

A number of brokerages recently commented on BMS. Barclays PLC reiterated a “hold” rating and issued a $43.00 target price on shares of Bemis Company in a research report on Tuesday. Jefferies Group LLC dropped their target price on Bemis Company from $46.00 to $40.00 and set a “hold” rating on the stock in a research report on Tuesday. Credit Suisse Group AG reiterated a “hold” rating and issued a $48.00 target price on shares of Bemis Company in a research report on Friday, April 28th. Deutsche Bank AG dropped their target price on Bemis Company from $52.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Finally, SunTrust Banks, Inc. lowered Bemis Company from a “buy” rating to a “hold” rating and dropped their target price for the company from $55.00 to $49.00 in a research report on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $46.45.

In other Bemis Company news, insider James W. Ransom sold 20,000 shares of Bemis Company stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $49.21, for a total value of $984,200.00. Following the transaction, the insider now directly owns 75,401 shares in the company, valued at approximately $3,710,483.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Bemis Company Company Profile

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.

Want to see what other hedge funds are holding BMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bemis Company, Inc. (NYSE:BMS).

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