Signition LP Acquires New Stake in Sonoco Products Co (SON)

Signition LP purchased a new stake in Sonoco Products Co (NYSE:SON) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,924 shares of the industrial products company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SON. The Manufacturers Life Insurance Company lifted its holdings in shares of Sonoco Products by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 146,067 shares of the industrial products company’s stock valued at $7,511,000 after buying an additional 2,626 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Sonoco Products by 3.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,568 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 338 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Sonoco Products by 3.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 81,899 shares of the industrial products company’s stock valued at $4,132,000 after acquiring an additional 2,634 shares in the last quarter. Viking Fund Management LLC bought a new position in shares of Sonoco Products in the 3rd quarter valued at approximately $1,514,000. Finally, BB&T Corp raised its stake in shares of Sonoco Products by 14.7% in the 3rd quarter. BB&T Corp now owns 7,354 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 72.23% of the company’s stock.

A number of research analysts recently weighed in on SON shares. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Friday, January 12th. Robert W. Baird reaffirmed a “buy” rating and issued a $60.00 price target on shares of Sonoco Products in a research report on Friday, November 10th. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Sunday, December 3rd. Barclays raised Sonoco Products from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $49.00 to $55.00 in a report on Friday, December 15th. Finally, TheStreet lowered Sonoco Products from a “b” rating to a “c+” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $53.43.

Sonoco Products Co (NYSE:SON) traded up $0.72 during mid-day trading on Friday, hitting $49.09. The stock had a trading volume of 279,135 shares, compared to its average volume of 475,610. The company has a market capitalization of $4,829.89, a P/E ratio of 28.15, a P/E/G ratio of 3.25 and a beta of 1.12. Sonoco Products Co has a 12 month low of $47.10 and a 12 month high of $55.77. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.74.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a return on equity of 16.63% and a net margin of 3.48%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. analysts predict that Sonoco Products Co will post 3.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. Sonoco Products’s dividend payout ratio (DPR) is currently 89.66%.

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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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