Dynamic Technology Lab Private Ltd Makes New $1.56 Million Investment in Sonoco Products Company $SON

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sonoco Products Company (NYSE:SON) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 36,104 shares of the industrial products company’s stock, valued at approximately $1,556,000.

Several other hedge funds have also recently modified their holdings of SON. State Street Corp increased its holdings in Sonoco Products by 0.3% in the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock valued at $194,733,000 after acquiring an additional 13,161 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sonoco Products by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,721,421 shares of the industrial products company’s stock valued at $160,353,000 after purchasing an additional 105,798 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Sonoco Products by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock valued at $122,169,000 after purchasing an additional 162,262 shares during the last quarter. Sei Investments Co. grew its position in shares of Sonoco Products by 1.3% during the second quarter. Sei Investments Co. now owns 1,398,881 shares of the industrial products company’s stock valued at $60,935,000 after purchasing an additional 18,308 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Sonoco Products by 12.8% in the third quarter. First Trust Advisors LP now owns 1,384,361 shares of the industrial products company’s stock worth $59,652,000 after purchasing an additional 156,793 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ernest D. Haynes III sold 1,581 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $56.39, for a total value of $89,152.59. Following the completion of the sale, the insider directly owned 9,377 shares in the company, valued at $528,769.03. This trade represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SON. Zacks Research raised Sonoco Products from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Raymond James Financial reaffirmed a “market perform” rating on shares of Sonoco Products in a research note on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Wall Street Zen upgraded Sonoco Products from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Robert W. Baird raised their target price on shares of Sonoco Products from $48.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.63.

Sonoco Products Stock Down 0.8%

Shares of NYSE:SON opened at $53.29 on Friday. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 5.29, a PEG ratio of 1.07 and a beta of 0.51. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $58.44. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $50.36 and a 200 day moving average price of $45.50.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Sonoco Products had a return on equity of 18.52% and a net margin of 13.34%.The firm’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share. As a group, equities research analysts predict that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, February 25th. Sonoco Products’s dividend payout ratio is presently 21.05%.

Sonoco Products Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.