Manning & Napier Advisors LLC increased its stake in shares of Bemis Co. (NYSE:BMS) by 30.7% during the third quarter, Holdings Channel reports. The fund owned 47,248 shares of the company’s stock after buying an additional 11,110 shares during the period. Manning & Napier Advisors LLC’s holdings in Bemis were worth $2,409,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Advisor Consultant Network Inc. bought a new position in Bemis during the third quarter valued at approximately $6,832,000. Nomura Holdings Inc. bought a new position in Bemis during the second quarter valued at approximately $1,373,000. Farmers & Merchants Investments Inc. boosted its position in Bemis by 2.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 71,000 shares of the company’s stock valued at $3,622,000 after buying an additional 2,000 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in Bemis by 711.1% in the second quarter. Catalyst Capital Advisors LLC now owns 70,000 shares of the company’s stock valued at $3,604,000 after buying an additional 61,370 shares during the last quarter. Finally, Albert D Mason Inc. boosted its position in Bemis by 76.9% in the third quarter. Albert D Mason Inc. now owns 96,306 shares of the company’s stock valued at $4,913,000 after buying an additional 41,858 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.
Shares of Bemis Co. (NYSE:BMS) traded down 0.58% during midday trading on Thursday, reaching $49.55. 502,541 shares of the company’s stock were exchanged. Bemis Co. has a 12 month low of $42.90 and a 12 month high of $54.19. The company’s 50 day moving average is $49.31 and its 200-day moving average is $50.34. The stock has a market cap of $4.64 billion, a PE ratio of 20.48 and a beta of 0.89.
Bemis (NYSE:BMS) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.75. The business earned $1.03 billion during the quarter, compared to the consensus estimate of $1.06 billion. Bemis had a return on equity of 20.19% and a net margin of 5.81%. Bemis’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Equities analysts forecast that Bemis Co. will post $2.68 EPS for the current fiscal year.
Several equities analysts recently commented on BMS shares. Bank of America Corp. cut shares of Bemis from a “buy” rating to a “neutral” rating and set a $54.00 target price for the company. in a research note on Friday, October 28th. Zacks Investment Research cut shares of Bemis from a “hold” rating to a “sell” rating in a research note on Wednesday, January 4th. Royal Bank Of Canada cut shares of Bemis from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $49.00 to $46.00 in a research note on Tuesday, December 13th. RBC Capital Markets cut shares of Bemis from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $49.00 to $46.00 in a research note on Tuesday, December 13th. Finally, Jefferies Group reissued a “hold” rating and issued a $46.00 price target (down previously from $47.00) on shares of Bemis in a report on Tuesday, November 1st. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.69.
In related news, Director Edward N. Perry sold 1,561 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $49.40, for a total value of $77,113.40. Following the completion of the transaction, the director now owns 96,577 shares of the company’s stock, valued at $4,770,903.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.
Bemis Company Profile
Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two business segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents food, consumer and industrial products packaging-related manufacturing operations in the United States. The U.S. Packaging segment manufactures multilayer polymer, blown and cast film structures to produce packaging sold for food and personal care product applications, as well as non-food applications.
Want to see what other hedge funds are holding BMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bemis Co. (NYSE:BMS).