Sonoco Products Co (SON) Holdings Lifted by BlackRock Inc.

BlackRock Inc. grew its position in Sonoco Products Co (NYSE:SON) by 1.4% in the 3rd quarter, Holdings Channel reports. The firm owned 10,995,170 shares of the industrial products company’s stock after buying an additional 146,538 shares during the period. BlackRock Inc. owned approximately 0.11% of Sonoco Products worth $610,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can lifted its stake 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 purchasing an additional 1,111 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Sonoco Products in the 2nd quarter valued at approximately $311,000. Wells Fargo & Company MN lifted its stake in shares of Sonoco Products by 12.1% in the 2nd quarter. Wells Fargo & Company MN now owns 318,689 shares of the industrial products company’s stock valued at $16,730,000 after purchasing an additional 34,323 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Sonoco Products by 163.3% in the 2nd quarter. Victory Capital Management Inc. now owns 792,285 shares of the industrial products company’s stock valued at $41,595,000 after purchasing an additional 491,419 shares during the last quarter. Finally, Sigma Planning Corp bought a new stake in shares of Sonoco Products in the 2nd quarter valued at approximately $223,000. Hedge funds and other institutional investors own 72.25% of the company’s stock.

Shares of SON stock opened at $57.50 on Thursday. Sonoco Products Co has a 52-week low of $46.55 and a 52-week high of $58.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.66 and a quick ratio of 1.19. The company has a market cap of $5.74 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 3.74 and a beta of 1.00.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, October 18th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.06. Sonoco Products had a return on equity of 18.42% and a net margin of 4.53%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company earned $0.76 EPS. Sonoco Products’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts expect that Sonoco Products Co will post 3.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Thursday, November 8th. Sonoco Products’s dividend payout ratio is currently 58.78%.

Several equities research analysts have recently issued reports on SON shares. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Thursday, October 18th. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Sonoco Products presently has a consensus rating of “Hold” and an average target price of $58.80.

In other Sonoco Products news, VP Marcy J. Thompson sold 693 shares of Sonoco Products stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $55.00, for a total transaction of $38,115.00. Following the completion of the sale, the vice president now directly owns 15,410 shares of the company’s stock, valued at approximately $847,550. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James A. Harrell III sold 734 shares of Sonoco Products stock in a transaction on Friday, November 16th. The shares were sold at an average price of $57.00, for a total value of $41,838.00. Following the sale, the vice president now directly owns 13,881 shares of the company’s stock, valued at $791,217. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

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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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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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