Louisiana State Employees Retirement System increased its stake in Sonoco Products Co (NYSE:SON) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,800 shares of the industrial products company’s stock after buying an additional 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Sonoco Products were worth $1,649,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SON. Rehmann Capital Advisory Group lifted its holdings in Sonoco Products by 40.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,137 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 328 shares during the last quarter. Rowland & Co. Investment Counsel ADV lifted its holdings in Sonoco Products by 48.5% during the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 60,469 shares of the industrial products company’s stock valued at $3,721,000 after purchasing an additional 19,749 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Sonoco Products by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 984,079 shares of the industrial products company’s stock valued at $52,284,000 after purchasing an additional 61,583 shares during the last quarter. Morgan Stanley lifted its holdings in Sonoco Products by 82.9% during the 3rd quarter. Morgan Stanley now owns 689,382 shares of the industrial products company’s stock valued at $38,261,000 after purchasing an additional 312,414 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in Sonoco Products by 0.5% during the 4th quarter. Carroll Financial Associates Inc. now owns 45,560 shares of the industrial products company’s stock valued at $2,368,000 after purchasing an additional 225 shares during the last quarter. 74.49% of the stock is owned by institutional investors.
Shares of Sonoco Products stock opened at $61.25 on Wednesday. Sonoco Products Co has a 1 year low of $49.71 and a 1 year high of $62.96. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 3.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.40 and a quick ratio of 0.95.
Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, February 14th. The industrial products company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Sonoco Products had a return on equity of 18.94% and a net margin of 5.82%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. On average, sell-side analysts forecast that Sonoco Products Co will post 3.52 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. Vertical Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Wednesday, December 19th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Sonoco Products currently has an average rating of “Hold” and an average price target of $56.50.
In other Sonoco Products news, VP Marcy J. Thompson sold 1,465 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $60.02, for a total transaction of $87,929.30. Following the transaction, the vice president now owns 15,410 shares in the company, valued at approximately $924,908.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Barry L. Saunders sold 5,547 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $59.68, for a total value of $331,044.96. Following the transaction, the chief financial officer now owns 77,719 shares in the company, valued at approximately $4,638,269.92. The disclosure for this sale can be found here. Insiders have sold a total of 20,829 shares of company stock worth $1,245,466 in the last quarter. Company insiders own 1.30% of the company’s stock.
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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