Traders Buy Shares of Sonoco Products (SON) on Weakness

Investors bought shares of Sonoco Products Co (NYSE:SON) on weakness during trading hours on Friday. $77.66 million flowed into the stock on the tick-up and $7.50 million flowed out of the stock on the tick-down, for a money net flow of $70.16 million into the stock. Of all stocks tracked, Sonoco Products had the 33rd highest net in-flow for the day. Sonoco Products traded down ($0.12) for the day and closed at $59.10

SON has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Wednesday, December 12th. Wells Fargo & Co reissued a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. Finally, KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday, February 14th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $56.67.

The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $5.90 billion, a PE ratio of 17.54, a PEG ratio of 3.61 and a beta of 1.01.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, February 14th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Sonoco Products had a return on equity of 18.94% and a net margin of 5.82%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. As a group, equities research analysts forecast that Sonoco Products Co will post 3.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 27th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, February 26th. This represents a $1.64 annualized dividend and a yield of 2.77%. Sonoco Products’s payout ratio is presently 48.66%.

In other Sonoco Products news, CFO Barry L. Saunders sold 5,547 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $59.68, for a total transaction of $331,044.96. Following the sale, the chief financial officer now owns 77,719 shares in the company, valued at approximately $4,638,269.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP R. Howard Coker sold 6,474 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $59.78, for a total value of $387,015.72. Following the sale, the senior vice president now owns 212,341 shares in the company, valued at approximately $12,693,744.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,829 shares of company stock worth $1,245,466. Corporate insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Sonoco Products by 7.8% in the 4th quarter. American Century Companies Inc. now owns 3,199,869 shares of the industrial products company’s stock valued at $170,009,000 after purchasing an additional 232,148 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sonoco Products by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 984,079 shares of the industrial products company’s stock valued at $52,284,000 after purchasing an additional 61,583 shares during the period. Fulcrum Equity Management acquired a new position in shares of Sonoco Products in the 4th quarter valued at about $263,000. Norges Bank acquired a new position in shares of Sonoco Products in the 4th quarter valued at about $55,542,000. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Sonoco Products by 5.2% in the 4th quarter. Coldstream Capital Management Inc. now owns 20,713 shares of the industrial products company’s stock valued at $1,100,000 after purchasing an additional 1,031 shares during the period. Hedge funds and other institutional investors own 73.91% of the company’s stock.

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About Sonoco Products (NYSE:SON)

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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