Sciencast Management LP Takes Position in Sonoco Products Company (NYSE:SON)

Sciencast Management LP acquired a new stake in shares of Sonoco Products Company (NYSE:SON) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,219 shares of the industrial products company’s stock, valued at approximately $577,000.

A number of other hedge funds also recently bought and sold shares of SON. Harfst & Associates Inc. purchased a new stake in Sonoco Products during the 2nd quarter valued at $126,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sonoco Products by 18.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,752 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 589 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Sonoco Products during the 2nd quarter valued at $206,000. Clinton Group Inc. purchased a new stake in Sonoco Products during the 1st quarter valued at $208,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Sonoco Products during the 2nd quarter valued at $220,000. 72.46% of the stock is owned by institutional investors.

In other Sonoco Products news, VP Marcy J. Thompson sold 565 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $51.00, for a total value of $28,815.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

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Shares of Sonoco Products Company (NYSE SON) traded down 0.23% during midday trading on Tuesday, hitting $51.40. The stock had a trading volume of 35,025 shares. Sonoco Products Company has a 52-week low of $47.10 and a 52-week high of $55.58. The firm has a 50 day moving average price of $49.49 and a 200-day moving average price of $50.48. The stock has a market cap of $5.11 billion, a PE ratio of 19.51 and a beta of 1.13.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, hitting the consensus estimate of $0.71. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts predict that Sonoco Products Company will post $2.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.03%. Sonoco Products’s dividend payout ratio (DPR) is presently 59.09%.

Several analysts have commented on the company. Zacks Investment Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Jefferies Group LLC restated a “hold” rating and issued a $48.00 price target on shares of Sonoco Products in a research note on Thursday, September 7th. Bank of America Corporation upgraded Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and issued a $60.00 price target on shares of Sonoco Products in a research note on Friday, September 1st. Finally, Vertical Research upgraded Sonoco Products from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $51.83.

Sonoco Products Profile

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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