(NYSE:BMS) shares saw heavy trading volume with 1,481K shares changing hands in the last trading session. Trading volume was up 100.15% over the stocks average daily volume.
Investors are feeling more bullish on shares of the company of late if you pay attention to the downtick in short interest. The firm realized a fall in short interest of -22.87% as of October 31, 2017 from the last reporting period. Short interest fell from 3,974,864 to 3,065,970 over that period. With short interest at 3,065,970 and short average daily volume at 785,691, days to cover is 4.0 and the short interest percentage is 0.03% as of October 31.
Additionally, here are a few investment firms who have increased or decreased their stake in (BMS). Echo Street Capital Management LLC grew its holdings by buying 194,588 shares an increase of 141.3% as of 09/30/2017. Echo Street Capital Management LLC claims 332,319 shares worth $15,144,000. The total value of its holdings increased 137.7%. As of the end of the quarter Impax Asset Management Ltd had bought a total of 63,000 shares growing its stake by 21.8%. The value of the investment in Bemis Company increased from $13,366,000 to $16,041,000 a change of 20.0% quarter to quarter.
Schwab Charles Investment Management Inc added to its ownership by buying 31,053 shares an increase of 7.1% from 06/30/2017 to 09/30/2017. Schwab Charles Investment Management Inc controls 470,046 shares valued at $21,420,000. The value of the position overall is up by 5.5%. Millennium Management LLC augmented its investment by buying 77,585 shares an increase of 19.6% in the quarter. Millennium Management LLC now controls 474,299 shares with a value of $21,614,000. The value of the position overall is up by 17.8%.
Equity analyst Barclays PLC raised the price target of the stock on October 30 boosting the projection from $50.00 to $52.00 and issued a “Overweight” rating. October 24 investment analysts at KeyCorp kept a “Hold” rating on the company.
On October 13, 2017 KeyCorp reiterated a “Hold” rating on the company.
September 14 investment analysts at SunTrust Banks kept the stock rating at “Hold” with a current price target of $47.00. On September 1 Robert W. Baird maintained a stock rating of “Hold” projecting a price of $48.00.
The company is trading down from yesterday’s close of 45.46. Bemis Company currently has a P/E ratio of 21.47 and market capitalization is 4.11B. In the latest earnings report the EPS was $2.11 with 90.81M shares currently outstanding.
Bemis Company, Inc., launched on May 18, 1885, is a manufacturer of packaging products. The Company operates through two segments: U.S. Packaging and Global Packaging. The Company supplies flexible and rigid plastic packaging used by food, consumer products, healthcare, and other companies around the world. The Business’s products are sold to customers in the food industry. The Business’s other customers include companies in various types of businesses, including chemical, agribusiness, medical, pharmaceutical, personal care, electronics, construction, and other consumer goods..Advertisement