Hotchkis & Wiley Capital Management LLC Makes New $12.88 Million Investment in Sonoco Products Company $SON

Key Points

• Hotchkis & Wiley Capital Management LLC invested approximately $12.88 million in Sonoco Products Company, acquiring 272,712 shares, which constitutes about 0.28% ownership of the company.
• Sonoco Products reported a 17.7% year-over-year increase in quarterly revenue, though its earnings per share (EPS) of $1.37 missed analysts' expectations by $0.07.
• The company announced a quarterly dividend of $0.53 per share, representing a 4.5% yield, with payment set for September 10th.

Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Sonoco Products Company (NYSE:SON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 272,712 shares of the industrial products company's stock, valued at approximately $12,883,000. Hotchkis & Wiley Capital Management LLC owned 0.28% of Sonoco Products at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SON. Whittier Trust Co. of Nevada Inc. increased its position in shares of Sonoco Products by 508.1% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock worth $43,000 after acquiring an additional 752 shares during the last quarter. UMB Bank n.a. grew its stake in Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 574 shares in the last quarter. Quarry LP grew its stake in Sonoco Products by 111.3% during the 4th quarter. Quarry LP now owns 970 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 511 shares in the last quarter. Colonial Trust Co SC increased its holdings in Sonoco Products by 90.6% during the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after purchasing an additional 453 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Sonoco Products by 152.0% in the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 646 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Stock Down 0.2%

Shares of SON stock traded down $0.08 during trading hours on Tuesday, hitting $46.77. 691,565 shares of the company were exchanged, compared to its average volume of 873,283. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. Sonoco Products Company has a one year low of $39.46 and a one year high of $56.77. The business's 50-day simple moving average is $45.82 and its two-hundred day simple moving average is $45.69. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 8.38, a P/E/G ratio of 0.63 and a beta of 0.69.

Sonoco Products (NYSE:SON - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the business earned $1.28 EPS. The business's revenue was up 17.7% on a year-over-year basis. Sonoco Products has set its FY 2025 guidance at 6.000-6.2 EPS. Sell-side analysts predict that Sonoco Products Company will post 6.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a yield of 4.5%. Sonoco Products's dividend payout ratio (DPR) is currently 37.99%.

Wall Street Analyst Weigh In

SON has been the subject of a number of recent analyst reports. Raymond James Financial raised their price target on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Truist Financial upped their target price on shares of Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, UBS Group increased their price target on shares of Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Sonoco Products currently has an average rating of "Moderate Buy" and a consensus price target of $57.63.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.