25,124 Sonoco Products Company $SON Shares Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its position in Sonoco Products Company (NYSE:SON) by 209,366.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,136 shares of the industrial products company’s stock after acquiring an additional 25,124 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Sonoco Products were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its stake in shares of Sonoco Products by 271.9% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,127 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 824 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Sonoco Products by 34.7% in the 1st quarter. Parallel Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 458 shares in the last quarter. CX Institutional acquired a new position in Sonoco Products in the 3rd quarter worth about $98,000. Hilltop National Bank raised its holdings in Sonoco Products by 49.7% in the 2nd quarter. Hilltop National Bank now owns 1,777 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 590 shares during the period. Finally, Allworth Financial LP purchased a new position in Sonoco Products during the second quarter worth approximately $111,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Price Performance

Shares of Sonoco Products stock opened at $49.57 on Thursday. The business has a 50 day simple moving average of $49.61 and a two-hundred day simple moving average of $52.46. Sonoco Products Company has a 12 month low of $39.27 and a 12 month high of $60.67. The stock has a market capitalization of $4.90 billion, a P/E ratio of -21.55, a PEG ratio of 1.71 and a beta of 0.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.18 and a quick ratio of 0.67.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.07). The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.07 billion. Sonoco Products had a positive return on equity of 16.40% and a negative net margin of 3.08%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.92 earnings per share. As a group, analysts predict that Sonoco Products Company will post 5.41 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a dividend of $0.54 per share. The ex-dividend date is Tuesday, November 10th. This represents a $2.16 dividend on an annualized basis and a yield of 4.4%. Sonoco Products’s payout ratio is presently -93.91%.

Analysts Set New Price Targets

SON has been the topic of a number of research analyst reports. Bank of America cut shares of Sonoco Products from a “buy” rating to a “neutral” rating and dropped their price target for the company from $69.00 to $60.00 in a research note on Thursday, September 3rd. Zacks Research lowered shares of Sonoco Products from a “hold” rating to a “strong sell” rating in a report on Thursday, October 22nd. Citigroup reduced their price objective on shares of Sonoco Products from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Weiss Ratings downgraded shares of Sonoco Products from a “hold (c+)” rating to a “sell (d+)” rating in a report on Friday, October 30th. Finally, Wells Fargo & Company dropped their target price on shares of Sonoco Products from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Sonoco Products currently has an average rating of “Hold” and a consensus target price of $57.38.

Sonoco Products Company Profile

Sonoco Products Company is a global packaging manufacturer founded in 1899 and headquartered in Hartsville, South Carolina. It develops packaging and related services for customers in industries including food, consumer goods, health care and manufacturing. Its products include metal and paper containers, flexible packaging, industrial paper-based packaging and protective packaging. Sonoco also provides packaging-related services, such as supply-chain and graphics management. The company serves customers worldwide through operations in multiple regions, including North America, Europe and Asia.