Los Angeles Capital Management & Equity Research Inc. Has $10.64 Million Holdings in Sonoco Products Company (SON)
Los Angeles Capital Management & Equity Research Inc. lowered its position in shares of Sonoco Products Company (NYSE:SON) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,925 shares of the industrial products company’s stock after selling 8,590 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.21% of Sonoco Products worth $10,641,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of SON. Teachers Advisors LLC lifted its holdings in Sonoco Products by 9.4% during the first quarter. Teachers Advisors LLC now owns 116,032 shares of the industrial products company’s stock valued at $6,140,000 after purchasing an additional 9,924 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Sonoco Products during the first quarter valued at approximately $7,689,000. Bank of Montreal Can lifted its holdings in Sonoco Products by 0.7% during the second quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock valued at $669,000 after purchasing an additional 88 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Sonoco Products by 4.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 37,078 shares of the industrial products company’s stock valued at $1,907,000 after purchasing an additional 1,545 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in Sonoco Products by 18.5% during the second quarter. LS Investment Advisors LLC now owns 7,850 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 1,226 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.
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Sonoco Products Company (SON) opened at $51.48 on Friday. Sonoco Products Company has a 1-year low of $47.10 and a 1-year high of $55.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.59 and a quick ratio of 1.11. The company has a market cap of $5,140.00, a price-to-earnings ratio of 19.09, a PEG ratio of 3.92 and a beta of 1.15.
Sonoco Products (NYSE:SON) last released its earnings results on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. research analysts expect that Sonoco Products Company will post 2.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, November 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 57.35%.
In other news, SVP Vicki B. Arthur sold 727 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $53.00, for a total value of $38,531.00. Following the transaction, the senior vice president now owns 33,998 shares of the company’s stock, valued at $1,801,894. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Marcy J. Thompson sold 565 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total transaction of $28,815.00. The disclosure for this sale can be found here. Insiders sold 6,937 shares of company stock worth $363,088 in the last three months. Insiders own 1.90% of the company’s stock.
Several equities analysts have weighed in on SON shares. Bank of America Corporation lifted their price target on shares of Sonoco Products from $55.00 to $56.00 and gave the company an “underperform” rating in a report on Friday, July 21st. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Thursday, October 19th. Robert W. Baird reaffirmed a “buy” rating and set a $60.00 price target on shares of Sonoco Products in a report on Friday, November 10th. Barclays PLC reaffirmed an “underweight” rating and set a $48.00 price target (up previously from $45.00) on shares of Sonoco Products in a report on Monday, July 24th. Finally, BidaskClub downgraded shares of Sonoco Products from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.00.
Sonoco Products 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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