Financial Counselors Inc. Raises Position in Sonoco Products Co (SON)
Financial Counselors Inc. increased its position in shares of Sonoco Products Co (NYSE:SON) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,647 shares of the industrial products company’s stock after purchasing an additional 2,897 shares during the quarter. Financial Counselors Inc. owned approximately 0.11% of Sonoco Products worth $5,683,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of SON. Ffcm LLC purchased a new stake in shares of Sonoco Products during the third quarter worth approximately $113,000. Harfst & Associates Inc. purchased a new stake in Sonoco Products in the 2nd quarter valued at $126,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sonoco Products by 18.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,752 shares of the industrial products company’s stock valued at $193,000 after buying an additional 589 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Sonoco Products in the 2nd quarter valued at $206,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Sonoco Products in the 2nd quarter valued at $220,000. Hedge funds and other institutional investors own 72.27% of the company’s stock.
In other news, VP Marcy J. Thompson sold 565 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $51.00, for a total value of $28,815.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Vicki B. Arthur sold 727 shares of the company’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 completion of the transaction, the senior vice president now directly owns 33,998 shares in the company, valued at approximately $1,801,894. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,937 shares of company stock worth $363,088. Corporate insiders own 1.90% of the company’s stock.
SON has been the subject of several analyst reports. Bank of America upgraded Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 target price for the company in a report on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and issued a $60.00 target price on shares of Sonoco Products in a report on Friday, September 1st. KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Sunday. Jefferies Group restated a “hold” rating and issued a $48.00 target price on shares of Sonoco Products in a report on Thursday, September 7th. Finally, Zacks Investment Research upgraded Sonoco Products from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $52.00.
Shares of Sonoco Products Co (NYSE SON) traded up $1.65 during trading on Tuesday, hitting $55.45. The stock had a trading volume of 689,400 shares, compared to its average volume of 531,572. Sonoco Products Co has a twelve month low of $47.10 and a twelve month high of $55.77. The firm has a market cap of $5,347.77, a price-to-earnings ratio of 20.08, a PEG ratio of 4.12 and a beta of 1.15. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74.
Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. research analysts expect that Sonoco Products Co will post 2.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Thursday, November 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 57.35%.
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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.
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