Nuveen Asset Management LLC lifted its holdings in Sonoco Products (NYSE:SON – Get Rating) by 35.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 346,837 shares of the industrial products company’s stock after buying an additional 91,388 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.36% of Sonoco Products worth $19,676,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SON. Raymond James & Associates grew its position in shares of Sonoco Products by 12.2% in the 1st quarter. Raymond James & Associates now owns 65,349 shares of the industrial products company’s stock worth $4,088,000 after buying an additional 7,130 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Sonoco Products by 8.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,286 shares of the industrial products company’s stock worth $894,000 after purchasing an additional 1,087 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Sonoco Products by 22.6% in the 1st quarter. Natixis Advisors L.P. now owns 23,239 shares of the industrial products company’s stock worth $1,454,000 after purchasing an additional 4,281 shares in the last quarter. Bank of Montreal Can boosted its stake in Sonoco Products by 164.2% in the 1st quarter. Bank of Montreal Can now owns 43,701 shares of the industrial products company’s stock worth $2,744,000 after purchasing an additional 27,157 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Sonoco Products by 1.5% in the 1st quarter. Rhumbline Advisers now owns 274,058 shares of the industrial products company’s stock worth $17,145,000 after purchasing an additional 3,941 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently issued reports on SON shares. Citigroup dropped their price target on shares of Sonoco Products from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Monday, February 13th. StockNews.com cut shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 8th. Finally, Argus upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Tuesday, February 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Sonoco Products currently has an average rating of “Hold” and a consensus price target of $65.83.
Insider Transactions at Sonoco Products
Sonoco Products Price Performance
SON opened at $60.36 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.35. The stock has a market capitalization of $5.90 billion, a P/E ratio of 12.79, a P/E/G ratio of 2.07 and a beta of 0.70. The company’s 50-day simple moving average is $60.16 and its two-hundred day simple moving average is $60.58. Sonoco Products has a 52-week low of $51.52 and a 52-week high of $67.06.
Sonoco Products (NYSE:SON – Get Rating) last posted its earnings results on Thursday, February 9th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. Sonoco Products had a net margin of 6.43% and a return on equity of 32.53%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $0.90 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, analysts predict that Sonoco Products will post 5.78 EPS for the current year.
Sonoco Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Wednesday, February 22nd will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, February 21st. Sonoco Products’s dividend payout ratio (DPR) is presently 41.53%.
Sonoco Products Company Profile
Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging, Paper and Industrial Converted Products, Protective Solutions, and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers, fiber and plastic caulk and adhesive tubes, and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.
Read More
- Get a free copy of the StockNews.com research report on Sonoco Products (SON)
- The 3 Most Upgraded Stocks Are Reversing
- How to Find Blue Chip Dividend Stocks
- Zscaler, Inc Plummets, Is It Time To Buy The Dip?
- What is a Good Dividend Yield? How to Decide
- Taiwan Semiconductor Manufacturing Expanding in the West
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 (NYSE:SON – Get Rating).
Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.
