Nvwm LLC Raises Position in Sonoco Products Co (SON)

Nvwm LLC boosted its stake in shares of Sonoco Products Co (NYSE:SON) by 10.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 64,551 shares of the industrial products company’s stock after buying an additional 6,184 shares during the quarter. Sonoco Products accounts for 2.4% of Nvwm LLC’s portfolio, making the stock its 8th biggest position. Nvwm LLC’s holdings in Sonoco Products were worth $3,389,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tandem Investment Advisors Inc. purchased a new stake in Sonoco Products during the 2nd quarter valued at about $278,000. Trexquant Investment LP purchased a new stake in Sonoco Products in the 1st quarter worth approximately $278,000. Swiss National Bank lifted its holdings in Sonoco Products by 2.3% in the 1st quarter. Swiss National Bank now owns 173,200 shares of the industrial products company’s stock worth $8,400,000 after buying an additional 3,900 shares during the period. State of Alaska Department of Revenue lifted its holdings in Sonoco Products by 210.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 23,890 shares of the industrial products company’s stock worth $1,253,000 after buying an additional 16,190 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Sonoco Products by 7.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 23,057 shares of the industrial products company’s stock worth $1,123,000 after buying an additional 1,571 shares during the period. Institutional investors own 69.85% of the company’s stock.

In other Sonoco Products news, SVP Rodger D. Fuller sold 1,884 shares of Sonoco Products stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $55.70, for a total value of $104,938.80. Following the completion of the sale, the senior vice president now directly owns 82,174 shares in the company, valued at $4,577,091.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Barry L. Saunders sold 6,580 shares of Sonoco Products stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $55.85, for a total transaction of $367,493.00. Following the completion of the sale, the chief financial officer now owns 91,181 shares of the company’s stock, valued at $5,092,458.85. The disclosure for this sale can be found here. Insiders sold 33,842 shares of company stock valued at $1,862,062 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Several equities research analysts have weighed in on SON shares. TheStreet upgraded Sonoco Products from a “c+” rating to a “b” rating in a report on Thursday, April 19th. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays increased their price objective on Sonoco Products from $55.00 to $58.00 and gave the stock a “$56.02” rating in a report on Monday, July 23rd. Vertical Research cut Sonoco Products from a “buy” rating to a “hold” rating in a report on Friday, April 20th. Finally, UBS Group started coverage on Sonoco Products in a report on Friday, April 13th. They issued a “buy” rating and a $55.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $55.63.

Sonoco Products traded up $0.49, hitting $56.31, on Thursday, according to MarketBeat. The company’s stock had a trading volume of 603,600 shares, compared to its average volume of 501,253. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.53. The stock has a market cap of $5.56 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 3.58 and a beta of 1.08. Sonoco Products Co has a 52-week low of $46.55 and a 52-week high of $57.18.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, July 19th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sonoco Products had a net margin of 4.57% and a return on equity of 18.01%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. sell-side analysts predict that Sonoco Products Co will post 3.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, August 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 58.78%.

Sonoco Products Company Profile

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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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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