Advisor Partners LLC increased its stake in shares of Sonoco Products Company (NYSE:SON) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,349 shares of the industrial products company’s stock after buying an additional 4 shares during the period. Advisor Partners LLC’s holdings in Sonoco Products were worth $326,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SON. Financial Engines Advisors L.L.C. boosted its stake 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. Global X Management Co. LLC boosted its stake in Sonoco Products by 1.0% in the first quarter. Global X Management Co. LLC now owns 4,954 shares of the industrial products company’s stock valued at $262,000 after buying an additional 50 shares in the last quarter. World Asset Management Inc boosted its stake in Sonoco Products by 0.8% in the second quarter. World Asset Management Inc now owns 6,896 shares of the industrial products company’s stock valued at $355,000 after buying an additional 57 shares in the last quarter. Bank of Montreal Can boosted its stake in Sonoco Products by 0.7% in the second quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock valued at $669,000 after buying an additional 88 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Sonoco Products by 1.6% in the first quarter. Meeder Asset Management Inc. now owns 9,127 shares of the industrial products company’s stock valued at $483,000 after buying an additional 144 shares in the last quarter. 73.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sonoco Products Company (NYSE:SON) opened at 47.97 on Friday. Sonoco Products Company has a one year low of $47.97 and a one year high of $55.58. The firm has a market capitalization of $4.77 billion, a PE ratio of 18.21 and a beta of 1.12. The firm’s 50 day moving average is $50.39 and its 200-day moving average is $52.01.

Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. Sonoco Products’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.73 earnings per share. On average, equities research analysts predict that Sonoco Products Company will post $2.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 11th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.56 annualized dividend and a yield of 3.25%. Sonoco Products’s dividend payout ratio (DPR) is currently 59.09%.

COPYRIGHT VIOLATION WARNING: This story was first posted by Daily Political and is the property of of Daily Political. If you are reading this story on another site, it was illegally copied and reposted in violation of United States and international trademark & copyright legislation. The original version of this story can be accessed at https://www.dailypolitical.com/2017/08/11/sonoco-products-company-nyseson-position-boosted-by-advisor-partners-llc.html.

Several analysts recently issued reports on the stock. DA Davidson raised shares of Sonoco Products from an “underperform” rating to a “neutral” rating and upped their price target for the company from $48.00 to $54.00 in a report on Friday, April 21st. BidaskClub raised shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Barclays PLC reaffirmed an “underweight” rating and issued a $48.00 price target (up from $45.00) on shares of Sonoco Products in a report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $48.00 price target (up from $47.00) on shares of Sonoco Products in a report on Sunday, April 23rd. Finally, Zacks Investment Research cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Sonoco Products has an average rating of “Hold” and an average price target of $52.57.

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.

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products Company (NYSE:SON).

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

Receive News & Ratings for Sonoco Products Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products Company and related companies with MarketBeat.com's FREE daily email newsletter.