Los Angeles Capital Management & Equity Research Inc. Has $8.50 Million Stake in Sonoco Products Co (NYSE:SON)
Los Angeles Capital Management & Equity Research Inc. raised its position in Sonoco Products Co (NYSE:SON) by 33.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 130,035 shares of the industrial products company’s stock after purchasing an additional 32,530 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Sonoco Products were worth $8,496,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hennessy Advisors Inc. bought a new position in Sonoco Products during the second quarter worth about $3,032,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Sonoco Products by 0.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 142,037 shares of the industrial products company’s stock worth $8,740,000 after purchasing an additional 1,308 shares during the period. Pratt Collard Advisory Partners LLC bought a new position in Sonoco Products during the first quarter worth about $229,000. O Shaughnessy Asset Management LLC grew its holdings in Sonoco Products by 121.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,886 shares of the industrial products company’s stock worth $606,000 after purchasing an additional 5,427 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its holdings in Sonoco Products by 236.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 154,100 shares of the industrial products company’s stock worth $9,482,000 after purchasing an additional 108,300 shares during the period. 74.07% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Marcy J. Thompson sold 1,182 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $61.37, for a total transaction of $72,539.34. Following the completion of the sale, the vice president now owns 18,938 shares in the company, valued at $1,162,225.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
Shares of NYSE:SON traded up $0.26 during trading on Tuesday, reaching $57.60. 5,296 shares of the stock were exchanged, compared to its average volume of 605,668. Sonoco Products Co has a 12 month low of $50.30 and a 12 month high of $66.57. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 3.53 and a beta of 0.90. The company’s 50-day moving average is $62.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.24.
Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Sonoco Products had a return on equity of 19.55% and a net margin of 5.61%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The company’s revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Sonoco Products Co will post 3.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, August 8th. Sonoco Products’s dividend payout ratio is presently 51.04%.
About Sonoco Products
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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