Sonoco Products Co (SON) Shares Bought by ARP Americas LP

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ARP Americas LP grew its holdings in shares of Sonoco Products Co (NYSE:SON) by 84.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,180 shares of the industrial products company’s stock after buying an additional 3,280 shares during the quarter. ARP Americas LP’s holdings in Sonoco Products were worth $442,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC bought a new position in Sonoco Products during the fourth quarter worth $35,000. Oregon Public Employees Retirement Fund lifted its stake in Sonoco Products by 5,213.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 2,027,805 shares during the last quarter. Parallel Advisors LLC lifted its stake in Sonoco Products by 102.4% during the first quarter. Parallel Advisors LLC now owns 755 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 382 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in Sonoco Products by 54.1% during the first quarter. Flagship Harbor Advisors LLC now owns 966 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 339 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in Sonoco Products by 40.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,137 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 328 shares during the last quarter. Institutional investors own 73.54% of the company’s stock.

SON stock opened at $62.73 on Monday. The company has a current ratio of 1.36, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 3.79 and a beta of 1.01. Sonoco Products Co has a 1 year low of $50.30 and a 1 year high of $64.46.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, April 18th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Sonoco Products had a return on equity of 19.57% and a net margin of 5.76%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.74 earnings per share. As a group, analysts predict that Sonoco Products Co will post 3.58 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.74%. This is a boost from Sonoco Products’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, May 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 51.04%.

Several equities analysts recently issued reports on the company. Argus upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Wednesday, April 24th. Wells Fargo & Co set a $58.00 price objective on Sonoco Products and gave the stock a “hold” rating in a research note on Monday, April 22nd. KeyCorp restated a “hold” rating on shares of Sonoco Products in a research note on Sunday, April 21st. Finally, Vertical Research cut Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.40.

In other Sonoco Products news, SVP R. Howard Coker sold 6,484 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total value of $401,618.96. Following the sale, the senior vice president now directly owns 215,108 shares in the company, valued at $13,323,789.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Roger P. Schrum sold 812 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $62.25, for a total value of $50,547.00. Following the completion of the sale, the vice president now owns 7,938 shares in the company, valued at $494,140.50. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock worth $758,537 over the last quarter. 1.30% of the stock is currently owned by company insiders.

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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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