Cornerstone Advisors Inc. Has $10.87 Million Position in Bemis Company, Inc. (BMS)

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Cornerstone Advisors Inc. increased its stake in Bemis Company, Inc. (NYSE:BMS) by 91.8% during the 3rd quarter, Holdings Channel reports. The firm owned 223,639 shares of the industrial products company’s stock after buying an additional 107,058 shares during the period. Bemis comprises 7.0% of Cornerstone Advisors Inc.’s holdings, making the stock its 2nd largest position. Cornerstone Advisors Inc.’s holdings in Bemis were worth $10,869,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake 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 worth $1,495,000 after acquiring an additional 1,023 shares during the last quarter. OppenheimerFunds Inc. boosted its stake 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 worth $1,182,000 after acquiring an additional 1,042 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $231,000 after acquiring an additional 1,075 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Bemis by 5.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,950 shares of the industrial products company’s stock worth $1,067,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake 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 worth $3,141,000 after acquiring an additional 1,462 shares during the last quarter. Institutional investors own 73.32% of the company’s stock.

Several research analysts have recently weighed in on BMS shares. UBS Group set a $49.00 price target on shares of Bemis and gave the stock a “hold” rating in a research note on Friday, October 26th. Barclays decreased their price objective on shares of Bemis from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, October 29th. Finally, Zacks Investment Research downgraded shares of 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 given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $49.50.

Shares of BMS stock opened at $45.96 on Wednesday. The firm has a market cap of $4.21 billion, a PE ratio of 17.07, a PEG ratio of 2.26 and a beta of 0.95. Bemis Company, Inc. has a one year low of $40.86 and a one year 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 announced its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. Bemis had a net margin of 2.72% and a return on equity of 20.61%. On average, equities analysts forecast 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. Stockholders of record on Thursday, November 15th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $1.24 annualized dividend and a dividend yield of 2.70%. Bemis’s payout ratio is 51.88%.

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Bemis Company Profile

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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Institutional Ownership by Quarter for Bemis (NYSE:BMS)

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