Shares of Bemis Company, Inc. (NYSE:BMS) ended Friday session in red amid volatile trading. The shares closed down -1.14 points or -2.21% at $50.77 with 94.71 million shares getting traded. Post opening the session at $51.53 the shares hit an intraday low of $50.77 and an intraday high of $51.79 and the price vacillated in this range throughout the day. The company has a market cap of $4.66 billion and the numbers of outstanding shares have been calculated to be 94.71 million shares.
Bemis Company, Inc. (BMS) on September 9, 2016 announced that it has priced an underwritten public offering of $300 million aggregate principal amount of 3.10% senior notes due 2026. The Company will pay interest on the notes semi-annually on March 15 and September 15 of each year, beginning on March 15, 2017.
Bemis intends to use the net proceeds from the offering to repay outstanding commercial paper and for general corporate purposes. The senior notes offering is expected to close by September 15, 2016, subject to customary closing conditions.
Shares of J M Smucker Co (NYSE:SJM) ended Friday session in red amid volatile trading. The shares closed down -3.65 points or -2.64% at $135.93 with 116.42 million shares getting traded. Post opening the session at $138.80 the shares hit an intraday low of $135.90 and an intraday high of $138.85 and the price vacillated in this range throughout the day. The company has a market cap of $15.35 billion and the numbers of outstanding shares have been calculated to be 116.42 million shares.
J M Smucker Co (SJM) on Aug. 23, 2016 announced results for the first quarter ended July 31, 2016, of its 2017 fiscal year.
- Net sales decreased 7 percent, reflecting the impact of the divested U.S. canned milk business and price declines.
- Net income per diluted share increased 28 percent to $1.46.
- Adjusted earnings per share was $1.86, an increase of 16 percent, reflecting incremental synergy realization, a lower tax rate, and fewer shares outstanding.
- Synergy realization was $32 million in the first quarter as the Company remains on track to achieve $100 million of incremental synergies in fiscal 2017.
- Cash provided by operating activities was $238.9 million in the first quarter, compared to $307.0 million in the prior year.
- The Company maintained its full-year fiscal 2017 earnings outlook, with adjusted earnings per share expected to range from $7.60 to $7.75.
CHIEF EXECUTIVE OFFICER REMARKS
“We are pleased with the start to our fiscal year as we delivered record first quarter earnings per share, which exceeded our expectations,” said Mark Smucker, Chief Executive Officer. “Despite the impact of deflation on the top line, we remain on track to achieve our original expectations for full-year earnings per share. We are strengthening a great portfolio of brands by investing in new capabilities and on-trend platforms that are essential to long-term sales growth. At the same time, we are focused on sustainable cost reductions that are delivering significant bottom-line benefits. For these reasons, we remain confident in achieving our long-term objectives and delivering continued shareholder value.”