Douglas Lane & Associates LLC bought a new position in shares of Sonoco Products Co (NYSE:SON) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,654 shares of the industrial products company’s stock, valued at approximately $225,000.

Several other institutional investors also recently modified their holdings of SON. Oregon Public Employees Retirement Fund boosted its holdings in shares of Sonoco Products by 5,213.0% during the 4th 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. Norges Bank acquired a new position in shares of Sonoco Products during the 4th quarter worth approximately $55,542,000. BlackRock Inc. boosted its holdings in shares of Sonoco Products by 3.1% during the 4th quarter. BlackRock Inc. now owns 11,331,928 shares of the industrial products company’s stock worth $602,065,000 after purchasing an additional 336,758 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Sonoco Products by 82.9% during the 3rd quarter. Morgan Stanley now owns 689,382 shares of the industrial products company’s stock worth $38,261,000 after purchasing an additional 312,414 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in shares of Sonoco Products during the 4th quarter worth approximately $14,338,000. Institutional investors and hedge funds own 74.49% of the company’s stock.

SON has been the topic of several recent research reports. Argus upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday. Wells Fargo & Co restated a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. Zacks Investment Research reiterated a “hold” rating and issued a $56.00 price objective on shares of Sonoco Products in a report on Monday, December 31st. Finally, Vertical Research cut Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Sonoco Products has a consensus rating of “Hold” and an average price target of $59.40.

SON opened at $61.75 on Thursday. Sonoco Products Co has a one year low of $50.30 and a one year high of $62.96. The company has a market capitalization of $6.05 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 3.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.36.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, April 18th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Sonoco Products had a return on equity of 19.57% and a net margin of 5.76%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts anticipate that Sonoco Products Co will post 3.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Sonoco Products’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 2.79%. Sonoco Products’s dividend payout ratio is currently 48.66%.

In related news, SVP Rodger D. Fuller sold 5,085 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $60.25, for a total value of $306,371.25. Following the transaction, the senior vice president now directly owns 72,978 shares in the company, valued at $4,396,924.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marcy J. Thompson sold 1,465 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $60.02, for a total value of $87,929.30. Following the completion of the transaction, the vice president now owns 15,410 shares in the company, valued at $924,908.20. The disclosure for this sale can be found here. Insiders sold 25,914 shares of company stock worth $1,551,838 over the last quarter. 1.30% of the stock is currently owned by insiders.

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Sonoco Products 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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