Sonoco Products Co (SON) Stake Lowered by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its holdings in Sonoco Products Co (NYSE:SON) by 0.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,837,746 shares of the industrial products company’s stock after selling 16,741 shares during the period. Ameriprise Financial Inc. owned about 1.85% of Sonoco Products worth $92,716,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SON. Financial Engines Advisors L.L.C. lifted its holdings in Sonoco Products by 33.4% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 15,870 shares of the industrial products company’s stock worth $801,000 after buying an additional 3,973 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Sonoco Products by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,363,962 shares of the industrial products company’s stock worth $68,811,000 after purchasing an additional 13,158 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Sonoco Products by 8.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 99,500 shares of the industrial products company’s stock worth $4,895,000 after purchasing an additional 7,700 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Sonoco Products by 695.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 63,269 shares of the industrial products company’s stock worth $3,192,000 after purchasing an additional 55,317 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Sonoco Products by 12.6% in the 3rd quarter. Rhumbline Advisers now owns 245,511 shares of the industrial products company’s stock worth $12,386,000 after purchasing an additional 27,491 shares during the last quarter. 72.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Sonoco Products Co (NYSE SON) traded down $0.26 during trading on Wednesday, hitting $55.19. The stock had a trading volume of 431,700 shares, compared to its average volume of 531,145. The firm has a market capitalization of $5,511.78, a PE ratio of 20.69, a PEG ratio of 4.25 and a beta of 1.15. Sonoco Products Co has a 1-year low of $47.10 and a 1-year high of $55.77. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. research analysts anticipate that Sonoco Products Co will post 2.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.56 annualized dividend and a yield of 2.83%. Sonoco Products’s dividend payout ratio (DPR) is currently 57.35%.

Several analysts recently commented on the company. Bank of America upgraded Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, September 6th. Jefferies Group restated a “hold” rating and issued a $48.00 target price on shares of Sonoco Products in a research report on Thursday, September 7th. Zacks Investment Research cut Sonoco Products from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a research report on Sunday. Finally, Barclays lifted their price target on Sonoco Products from $48.00 to $49.00 and gave the company an “underweight” rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $52.00.

In related news, CFO Barry L. Saunders sold 5,645 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $52.39, for a total transaction of $295,741.55. Following the transaction, the chief financial officer now directly owns 60,455 shares in the company, valued at $3,167,237.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vicki B. Arthur sold 727 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $53.00, for a total value of $38,531.00. Following the transaction, the senior vice president now owns 33,998 shares in the company, valued at $1,801,894. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,937 shares of company stock worth $363,088. Corporate insiders own 1.90% of the company’s stock.

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About Sonoco Products

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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