Susquehanna Fundamental Investments LLC Boosts Stake in Sonoco Products Co (SON)
Susquehanna Fundamental Investments LLC lifted its position in Sonoco Products Co (NYSE:SON) by 69.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,311 shares of the industrial products company’s stock after buying an additional 13,600 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Sonoco Products were worth $1,770,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC acquired a new stake in shares of Sonoco Products during the fourth quarter worth $35,000. Oregon Public Employees Retirement Fund raised its position in shares of 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 period. Tributary Capital Management LLC acquired a new stake in shares of Sonoco Products during the fourth quarter worth $46,000. Rehmann Capital Advisory Group raised its position in shares of 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 period. Finally, Meeder Asset Management Inc. raised its position in shares of Sonoco Products by 67.5% during the fourth quarter. Meeder Asset Management Inc. now owns 1,330 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 536 shares during the period. 73.72% of the stock is currently owned by institutional investors.
In other Sonoco Products news, VP Marcy J. Thompson sold 1,465 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $60.02, for a total value of $87,929.30. Following the completion of the sale, the vice president now owns 15,410 shares of the company’s stock, valued at $924,908.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin P. Mahoney sold 1,119 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $59.57, for a total value of $66,658.83. Following the completion of the sale, the senior vice president now directly owns 2,295 shares of the company’s stock, valued at approximately $136,713.15. The disclosure for this sale can be found here. Insiders sold 20,829 shares of company stock worth $1,245,466 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Shares of SON stock traded up $0.19 on Tuesday, reaching $60.11. 844 shares of the company’s stock traded hands, compared to its average volume of 605,623. Sonoco Products Co has a 12-month low of $46.55 and a 12-month high of $61.79. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 3.61 and a beta of 1.01.
Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, February 14th. The industrial products company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Sonoco Products had a return on equity of 18.94% and a net margin of 5.82%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Sonoco Products’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Sonoco Products Co will post 3.51 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 27th were paid a $0.41 dividend. The ex-dividend date of this dividend was Tuesday, February 26th. This represents a $1.64 dividend on an annualized basis and a yield of 2.73%. Sonoco Products’s dividend payout ratio (DPR) is currently 48.66%.
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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