Financial Counselors Inc. Boosts Stake in Sonoco Products (NYSE:SON)

Financial Counselors Inc. increased its position in Sonoco Products (NYSE:SON – Get Rating) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 211,869 shares of the industrial products company’s stock after purchasing an additional 995 shares during the period. Financial Counselors Inc. owned 0.22% of Sonoco Products worth $12,265,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CWM LLC acquired a new position in Sonoco Products in the 4th quarter valued at about $27,000. UMB Bank N A MO acquired a new position in Sonoco Products in the 4th quarter valued at about $54,000. Concord Wealth Partners increased its position in Sonoco Products by 99.5% in the 4th quarter. Concord Wealth Partners now owns 1,197 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 597 shares during the period. PSI Advisors LLC acquired a new position in Sonoco Products in the 3rd quarter valued at about $75,000. Finally, Norwood Financial Corp acquired a new position in Sonoco Products in the 4th quarter valued at about $78,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

In related news, CFO Julie C. Albrecht sold 1,693 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $61.89, for a total value of $104,779.77. Following the sale, the chief financial officer now owns 54,091 shares of the company’s stock, valued at approximately $3,347,691.99. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Harold G. Cummings III bought 2,200 shares of Sonoco Products stock in a transaction that occurred on Tuesday, February 15th. The stock was bought at an average cost of $56.45 per share, for a total transaction of $124,190.00. The disclosure for this purchase can be found here. Corporate insiders own 0.47% of the company’s stock.

Several equities analysts recently issued reports on SON shares. Deutsche Bank Aktiengesellschaft boosted their price target on Sonoco Products from $63.00 to $65.00 in a research report on Monday, April 18th. Wells Fargo & Company boosted their target price on Sonoco Products from $59.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 19th. TheStreet upgraded Sonoco Products from a “c” rating to a “b” rating in a research report on Thursday, April 21st. StockNews.com cut Sonoco Products from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Finally, Seaport Res Ptn cut Sonoco Products from a “buy” rating to a “neutral” rating in a research report on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Sonoco Products currently has a consensus rating of “Hold” and a consensus target price of $63.14.

Shares of SON traded down $1.60 on Tuesday, reaching $57.91. The stock had a trading volume of 11,280 shares, compared to its average volume of 629,437. The firm has a market capitalization of $5.65 billion, a PE ratio of -148.77, a PEG ratio of 2.26 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average of $60.83 and a 200 day moving average of $59.35. Sonoco Products has a twelve month low of $54.34 and a twelve month high of $69.83.

Sonoco Products (NYSE:SON – Get Rating) last released its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Sonoco Products had a positive return on equity of 23.98% and a negative net margin of 0.71%. The company’s revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, sell-side analysts anticipate that Sonoco Products will post 5.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Tuesday, May 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, May 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.38%. This is a boost from Sonoco Products’s previous quarterly dividend of $0.45. Sonoco Products’s dividend payout ratio is currently -461.53%.

Sonoco Products Company Profile (Get Rating)

Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management.

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