Neuburgh Advisers LLC grew its holdings in shares of Sonoco Products Co (NYSE:SON) by 91.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,824 shares of the industrial products company’s stock after purchasing an additional 10,406 shares during the quarter. Neuburgh Advisers LLC’s holdings in Sonoco Products were worth $1,343,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of SON. Rockefeller Capital Management L.P. lifted its stake in shares of Sonoco Products by 63.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 501 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 194 shares during the period. Hirtle Callaghan & Co LLC purchased a new position in shares of Sonoco Products during the 4th quarter worth $35,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Sonoco Products by 5,213.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 2,027,805 shares during the period. Parallel Advisors LLC lifted its stake in shares of Sonoco Products by 102.4% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 382 shares during the period. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Sonoco Products by 54.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 966 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 339 shares during the period. 73.89% of the stock is currently owned by institutional investors.
SON stock opened at $65.68 on Friday. The firm has a market cap of $6.58 billion, a PE ratio of 19.49, a PEG ratio of 3.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.36 and a quick ratio of 0.91. Sonoco Products Co has a 52 week low of $50.30 and a 52 week high of $66.23.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, April 18th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. Sonoco Products had a return on equity of 19.57% and a net margin of 5.76%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 EPS. On average, analysts forecast that Sonoco Products Co will post 3.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $0.43 dividend. This is an increase from Sonoco Products’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, May 9th. Sonoco Products’s dividend payout ratio is currently 51.04%.
A number of brokerages have weighed in on SON. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a research note on Sunday, April 21st. Vertical Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Argus upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Wednesday, April 24th. Wells Fargo & Co set a $58.00 price objective on Sonoco Products and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, ValuEngine upgraded Sonoco Products from a “hold” rating to a “buy” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Sonoco Products has an average rating of “Hold” and a consensus target price of $59.40.
In related news, SVP R. Howard Coker sold 6,484 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total value of $401,618.96. Following the completion of the sale, the senior vice president now directly owns 215,108 shares in the company, valued at approximately $13,323,789.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Rodger D. Fuller sold 5,085 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $60.25, for a total value of $306,371.25. Following the completion of the sale, the senior vice president now owns 72,978 shares of the company’s stock, valued at $4,396,924.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,381 shares of company stock valued at $758,537. 1.30% of the stock is owned by insiders.
Sonoco Products Company 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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