LSV Asset Management Raises Stake in Sonoco Products Company (NYSE:SON)

LSV Asset Management boosted its stake in shares of Sonoco Products Company (NYSE:SON - Free Report) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,118 shares of the industrial products company's stock after purchasing an additional 61,756 shares during the quarter. LSV Asset Management owned about 0.51% of Sonoco Products worth $23,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of SON. Whittier Trust Co. of Nevada Inc. raised its holdings 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 purchasing an additional 752 shares during the last quarter. UMB Bank n.a. grew its position in shares of Sonoco Products by 152.7% in the first 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 during the period. Colonial Trust Co SC grew its position in shares of Sonoco Products by 90.6% in the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 453 shares during the period. Quarry LP boosted its position in Sonoco Products by 111.3% during the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock worth $47,000 after acquiring an additional 511 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Sonoco Products by 152.0% during the first quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock worth $50,000 after buying an additional 646 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

Sonoco Products Stock Performance

Sonoco Products stock traded up $0.39 during mid-day trading on Thursday, reaching $45.77. 381,262 shares of the company were exchanged, compared to its average volume of 863,289. Sonoco Products Company has a twelve month low of $39.46 and a twelve month high of $56.77. The firm's 50-day simple moving average is $45.53 and its two-hundred day simple moving average is $45.90. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25. The firm has a market cap of $4.51 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 0.60 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 for the quarter, missing the consensus estimate of $1.44 by ($0.07). The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.92 billion. Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The firm's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. Equities analysts predict that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

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 given a dividend of $0.53 per share. The ex-dividend date is Friday, August 8th. This represents a $2.12 dividend on an annualized basis and a yield of 4.6%. Sonoco Products's payout ratio is presently 37.99%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SON. Wall Street Zen upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Raymond James Financial increased their target price on shares of Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. UBS Group increased their target price on shares of Sonoco Products from $48.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Jefferies Financial Group started coverage on shares of Sonoco Products in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of Sonoco Products from an "underweight" rating to an "overweight" rating and increased their target price for the company from $45.00 to $55.00 in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Sonoco Products currently has an average rating of "Moderate Buy" and an average target price 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.