LSV Asset Management Has $34.42 Million Stock Holdings in Sonoco Products Company $SON

LSV Asset Management increased its holdings in shares of Sonoco Products Company (NYSE:SON) by 105.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 798,800 shares of the industrial products company’s stock after purchasing an additional 410,200 shares during the period. LSV Asset Management owned approximately 0.81% of Sonoco Products worth $34,420,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC raised its holdings in Sonoco Products by 2.8% during the third quarter. Linden Thomas Advisory Services LLC now owns 12,742 shares of the industrial products company’s stock worth $549,000 after buying an additional 345 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Sonoco Products by 5.3% during the third quarter. SG Americas Securities LLC now owns 7,043 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 354 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Sonoco Products by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 29,185 shares of the industrial products company’s stock worth $1,258,000 after acquiring an additional 403 shares during the last quarter. Naples Global Advisors LLC lifted its position in Sonoco Products by 0.7% in the 3rd quarter. Naples Global Advisors LLC now owns 58,694 shares of the industrial products company’s stock valued at $2,529,000 after acquiring an additional 426 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Sonoco Products by 11.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,559 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 459 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SON has been the subject of several analyst reports. Wall Street Zen raised Sonoco Products from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 price target (down previously from $52.00) on shares of Sonoco Products in a report on Tuesday, January 6th. Jefferies Financial Group lowered their price target on Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Raymond James Financial set a $60.00 price objective on shares of Sonoco Products in a report on Monday, January 5th. Finally, UBS Group upped their target price on shares of Sonoco Products from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Sonoco Products presently has an average rating of “Hold” and a consensus target price of $54.86.

Sonoco Products Stock Up 0.7%

Shares of NYSE:SON opened at $51.66 on Friday. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $52.38. The company has a market capitalization of $5.10 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 0.80 and a beta of 0.54. The business has a fifty day moving average price of $46.47 and a two-hundred day moving average price of $44.46. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.92 and a quick ratio of 0.58.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be paid a dividend of $0.53 per share. The ex-dividend date is Wednesday, February 25th. This represents a $2.12 annualized dividend and a dividend yield of 4.1%. Sonoco Products’s dividend payout ratio (DPR) is presently 33.65%.

Sonoco Products Company Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.