ProShare Advisors LLC increased its stake in shares of Sonoco Products Company (NYSE:SON) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,512 shares of the industrial products company’s stock after buying an additional 5,981 shares during the quarter. ProShare Advisors LLC owned about 0.18% of Sonoco Products worth $9,282,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of SON. Russell Investments Group Ltd. grew its position in Sonoco Products by 8.4% during the first quarter. Russell Investments Group Ltd. now owns 96,899 shares of the industrial products company’s stock worth $5,128,000 after buying an additional 7,478 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Sonoco Products by 5.9% during the first quarter. Great West Life Assurance Co. Can now owns 74,539 shares of the industrial products company’s stock worth $3,945,000 after buying an additional 4,183 shares in the last quarter. Pictet Asset Management Ltd. acquired a new stake in Sonoco Products during the first quarter worth approximately $106,000. UBS Asset Management Americas Inc. grew its position in Sonoco Products by 19.5% during the first quarter. UBS Asset Management Americas Inc. now owns 70,855 shares of the industrial products company’s stock worth $3,750,000 after buying an additional 11,574 shares in the last quarter. Finally, Meadow Creek Investment Management LLC grew its position in Sonoco Products by 11.5% during the first quarter. Meadow Creek Investment Management LLC now owns 3,264 shares of the industrial products company’s stock worth $173,000 after buying an additional 336 shares in the last quarter. 72.45% of the stock is currently owned by institutional investors and hedge funds.
Sonoco Products Company (SON) traded up 0.02% during midday trading on Monday, hitting $48.57. The company had a trading volume of 26,177 shares. The firm’s 50 day moving average is $48.45 and its 200-day moving average is $50.98. Sonoco Products Company has a 52 week low of $47.10 and a 52 week high of $55.58. The firm has a market capitalization of $4.83 billion, a P/E ratio of 18.44 and a beta of 1.12.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, July 20th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.71. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Sonoco Products Company will post $2.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 11th were given a $0.39 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.56 annualized dividend and a yield of 3.21%. Sonoco Products’s dividend payout ratio (DPR) is presently 59.09%.
A number of brokerages recently issued reports on SON. Jefferies Group LLC reissued a “hold” rating and set a $48.00 price target on shares of Sonoco Products in a research report on Thursday, August 3rd. BidaskClub downgraded Sonoco Products from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, June 22nd. Bank of America Corporation raised Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Wednesday, September 6th. Finally, Vertical Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.57.
About Sonoco Products
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.
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.