Trade Report: Today: 5,503 Shares of Sonoco Products Co. (SON) are sold by Ngam Advisors L.P.

Today: 5,503 Shares of Sonoco Products Co. (SON) are sold by Ngam Advisors L.P.

Ngam Advisors L.P. cut its position in Sonoco Products Co. (NYSE:SON) by 2.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 194,624 shares of the company’s stock after selling 5,503 shares during the period. Ngam Advisors L.P. owned approximately 0.19% of Sonoco Products worth $10,282,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. AMP Capital Investors Ltd boosted its position in shares of Sonoco Products by 6.8% in the first quarter. AMP Capital Investors Ltd now owns 40,841 shares of the company’s stock worth $1,989,000 after buying an additional 2,600 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Sonoco Products by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 27,031 shares of the company’s stock worth $1,313,000 after buying an additional 716 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Sonoco Products by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 91,499 shares of the company’s stock worth $4,444,000 after buying an additional 2,607 shares during the last quarter. BlueMountain Capital Management LLC boosted its position in shares of Sonoco Products by 400.4% in the first quarter. BlueMountain Capital Management LLC now owns 16,569 shares of the company’s stock worth $805,000 after buying an additional 13,258 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Sonoco Products by 5.1% in the second quarter. BNP Paribas Arbitrage SA now owns 48,483 shares of the company’s stock worth $2,408,000 after buying an additional 2,364 shares during the last quarter. 69.47% of the stock is owned by institutional investors and hedge funds.

Shares of Sonoco Products Co. (NYSE:SON) traded up 0.284% on Monday, reaching $54.715. The company’s stock had a trading volume of 58,212 shares. The company has a market cap of $5.46 billion, a PE ratio of 23.584 and a beta of 1.03. Sonoco Products Co. has a 52-week low of $36.56 and a 52-week high of $54.83. The firm has a 50 day moving average of $51.31 and a 200 day moving average of $50.36.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Sonoco Products had a net margin of 4.84% and a return on equity of 17.84%. The company earned $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts predict that Sonoco Products Co. will post $2.74 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 11th will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.71%. Sonoco Products’s payout ratio is 63.52%.

A number of equities analysts have recently issued reports on SON shares. Bank of America Corp. cut Sonoco Products from a “neutral” rating to an “underperform” rating in a report on Monday, October 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered Sonoco Products from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Vertical Research upgraded Sonoco Products from a “sell” rating to a “hold” rating in a research report on Monday, October 24th. Finally, Jefferies Group restated a “hold” rating and set a $47.00 price target (up from $46.00) on shares of Sonoco Products in a research report on Monday, October 24th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $45.86.

In other news, Director John E. Linville sold 54,000 shares of Sonoco Products stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $50.46, for a total value of $2,724,840.00. Following the completion of the sale, the director now directly owns 223,787 shares in the company, valued at $11,292,292.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP R. Howard Coker sold 1,390 shares of Sonoco Products stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $49.65, for a total transaction of $69,013.50. Following the completion of the sale, the vice president now owns 159,340 shares of the company’s stock, valued at $7,911,231. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Sonoco Products Company Profile

Related posts

Leave a Comment