Financial Engines Advisors L.L.C. grew its stake in Sonoco Products Co (NYSE:SON) by 53.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 22,120 shares of the industrial products company’s stock after purchasing an additional 7,691 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in Sonoco Products were worth $1,228,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vident Investment Advisory LLC grew its holdings in shares of Sonoco Products by 4.2% in the 2nd quarter. Vident Investment Advisory LLC now owns 24,019 shares of the industrial products company’s stock valued at $1,261,000 after acquiring an additional 968 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Sonoco Products by 4.3% in the 1st quarter. LPL Financial LLC now owns 25,470 shares of the industrial products company’s stock valued at $1,235,000 after acquiring an additional 1,055 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Sonoco Products by 9.8% in the 2nd quarter. Bank of Montreal Can now owns 12,473 shares of the industrial products company’s stock valued at $655,000 after acquiring an additional 1,111 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Sonoco Products by 3.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 38,408 shares of the industrial products company’s stock valued at $2,016,000 after acquiring an additional 1,120 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Sonoco Products by 32.5% in the 3rd quarter. IFP Advisors Inc now owns 5,157 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 1,265 shares in the last quarter. Institutional investors own 70.56% of the company’s stock.
In related news, VP Marcy J. Thompson sold 693 shares of the firm’s stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $55.00, for a total value of $38,115.00. Following the completion of the sale, the vice president now directly owns 15,410 shares in the company, valued at approximately $847,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.
Several brokerages have recently weighed in on SON. Zacks Investment Research upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 18th. Barclays raised their price objective on Sonoco Products from $55.00 to $58.00 and gave the company a “$56.02” rating in a report on Monday, July 23rd. DA Davidson raised their target price on shares of Sonoco Products to $57.00 and gave the company a “neutral” rating in a research note on Friday, July 20th. Finally, KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a research note on Thursday, October 18th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $59.00.
Shares of NYSE:SON opened at $55.07 on Monday. Sonoco Products Co has a 52-week low of $46.55 and a 52-week high of $58.69. The stock has a market capitalization of $5.50 billion, a P/E ratio of 19.74, a PEG ratio of 3.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.66 and a quick ratio of 1.19.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 18th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.06. Sonoco Products had a net margin of 4.53% and a return on equity of 18.42%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business posted $0.76 EPS. Sonoco Products’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts expect that Sonoco Products Co will post 3.32 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be paid a $0.41 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.64 annualized dividend and a yield of 2.98%. Sonoco Products’s dividend payout ratio (DPR) is currently 58.78%.
Sonoco Products Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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