Mason Street Advisors LLC raised its stake in shares of Sonoco Products Co (NYSE:SON) by 0.6% during the first quarter, Holdings Channel reports. The firm owned 46,885 shares of the industrial products company’s stock after buying an additional 283 shares during the period. Mason Street Advisors LLC’s holdings in Sonoco Products were worth $2,481,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. National Planning Corp raised its stake in Sonoco Products by 0.3% in the fourth quarter. National Planning Corp now owns 12,568 shares of the industrial products company’s stock valued at $690,000 after buying an additional 37 shares during the period. Financial Engines Advisors L.L.C. increased its position in Sonoco Products by 0.4% in the first quarter. Financial Engines Advisors L.L.C. now owns 11,448 shares of the industrial products company’s stock valued at $606,000 after buying an additional 40 shares in the last quarter. Wesbanco Bank Inc. increased its position in Sonoco Products by 3.8% in the first quarter. Wesbanco Bank Inc. now owns 5,671 shares of the industrial products company’s stock valued at $300,000 after buying an additional 208 shares in the last quarter. State of Alaska Department of Revenue increased its position in Sonoco Products by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 8,380 shares of the industrial products company’s stock valued at $443,000 after buying an additional 210 shares in the last quarter. Finally, IFP Advisors Inc increased its position in Sonoco Products by 13.2% in the first quarter. IFP Advisors Inc now owns 2,077 shares of the industrial products company’s stock valued at $110,000 after buying an additional 242 shares in the last quarter. 69.86% of the stock is currently owned by institutional investors and hedge funds.
Sonoco Products Co (NYSE:SON) traded up 0.46% during trading on Friday, reaching $50.34. The company’s stock had a trading volume of 331,369 shares. Sonoco Products Co has a 52-week low of $45.67 and a 52-week high of $55.58. The stock has a 50-day moving average price of $52.01 and a 200 day moving average price of $53.09. The company has a market cap of $5.00 billion, a PE ratio of 18.29 and a beta of 1.12.
Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, April 20th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Sonoco Products had a return on equity of 17.59% and a net margin of 5.99%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, analysts expect that Sonoco Products Co will post $2.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 12th will be issued a $0.39 dividend. This is a boost from Sonoco Products’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, May 10th. Sonoco Products’s dividend payout ratio is presently 52.48%.
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Several equities analysts have commented on the company. DA Davidson upgraded Sonoco Products from an “underperform” rating to a “neutral” rating and increased their target price for the company from $48.00 to $54.00 in a research report on Friday, April 21st. Zacks Investment Research upgraded Sonoco Products from a “sell” rating to a “hold” rating in a research report on Thursday, March 9th. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a research report on Thursday, February 9th. Jefferies Group LLC reiterated a “hold” rating and issued a $48.00 target price (up from $47.00) on shares of Sonoco Products in a research report on Sunday, April 23rd. Finally, Barclays PLC reiterated an “overweight” rating on shares of Sonoco Products in a research report on Friday, April 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.33.
In related news, SVP R. Howard Coker sold 9,691 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $53.35, for a total transaction of $517,014.85. Following the completion of the sale, the senior vice president now directly owns 149,340 shares in the company, valued at approximately $7,967,289. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James A. Harrell III sold 556 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $54.50, for a total value of $30,302.00. Following the sale, the vice president now owns 13,218 shares of the company’s stock, valued at $720,381. The disclosure for this sale can be found here. Insiders sold a total of 11,187 shares of company stock valued at $597,400 over the last quarter. Company insiders own 1.90% of the company’s stock.
Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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