Mork Capital Management LLC Makes New Investment in Sonoco Products Company $SON

Key Points

• Mork Capital Management LLC has acquired a new position in Sonoco Products Company, purchasing 20,000 shares for approximately $945,000.
• Several institutional investors significantly increased their stakes in Sonoco Products during the 1st quarter, with Millennium Management LLC enhancing its position by 739.7% to own over 1.15 million shares.
• Sono Products reported a $1.37 earnings per share for the last quarter, missing analysts' expectations, but its revenue increased by 17.7% year-over-year.

Mork Capital Management LLC acquired a new position in Sonoco Products Company (NYSE:SON - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,000 shares of the industrial products company's stock, valued at approximately $945,000.

Other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its holdings in Sonoco Products by 508.1% in the 1st 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. boosted its stake in Sonoco Products by 152.7% in the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock worth $45,000 after purchasing an additional 574 shares during the period. Colonial Trust Co SC boosted its stake in Sonoco Products by 90.6% in 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 period. Allworth Financial LP boosted its stake in Sonoco Products by 152.0% in the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock worth $50,000 after purchasing an additional 646 shares during the period. Finally, Quarry LP boosted its stake in Sonoco Products by 56.5% in the 1st quarter. Quarry LP now owns 1,518 shares of the industrial products company's stock worth $72,000 after purchasing an additional 548 shares during the period. Hedge funds and other institutional investors own 77.69% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company upgraded Sonoco Products from an "underweight" rating to an "overweight" rating and raised their target price for the stock from $45.00 to $55.00 in a research note on Friday, May 23rd. Raymond James Financial lifted their price target on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Truist Financial lifted their price target on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, UBS Group lifted their price target on Sonoco Products from $48.00 to $50.00 and gave the company 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $57.63.

Sonoco Products Trading Up 1.0%

Sonoco Products stock traded up $0.44 during trading hours on Thursday, reaching $46.50. The company had a trading volume of 280,013 shares, compared to its average volume of 862,179. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.25 and a quick ratio of 0.72. The company has a 50-day moving average price of $46.32 and a 200 day moving average price of $45.63. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 0.61 and a beta of 0.70. Sonoco Products Company has a 12-month low of $39.46 and a 12-month high of $56.36.

Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). Sonoco Products had a net margin of 8.35% and a return on equity of 20.46%. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same period last year, the firm posted $1.28 earnings per share. Sonoco Products's quarterly 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. Equities analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.6%. Sonoco Products's payout ratio is 37.99%.

Sonoco Products Company Profile

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.