Sonoco Products Company (SON) Stake Held by OLD Republic International Corp

OLD Republic International Corp continued to hold its position in Sonoco Products Company (NYSE:SON) during the second quarter, Holdings Channel reports. The institutional investor owned 351,800 shares of the industrial products company’s stock at the end of the second quarter. OLD Republic International Corp’s holdings in Sonoco Products were worth $18,090,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Financial Engines Advisors L.L.C. increased its position in Sonoco Products by 0.4% in the first quarter. Financial Engines Advisors L.L.C. now owns 11,448 shares of the industrial products company’s stock worth $606,000 after buying an additional 40 shares during the last quarter. National Planning Corp increased its position in Sonoco Products by 0.3% in the second quarter. National Planning Corp now owns 12,647 shares of the industrial products company’s stock worth $652,000 after buying an additional 42 shares during the last quarter. Global X Management Co. LLC increased its position in Sonoco Products by 1.0% in the first quarter. Global X Management Co. LLC now owns 4,954 shares of the industrial products company’s stock worth $262,000 after buying an additional 50 shares during the last quarter. World Asset Management Inc increased its position in Sonoco Products by 0.8% in the second quarter. World Asset Management Inc now owns 6,896 shares of the industrial products company’s stock worth $355,000 after buying an additional 57 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in Sonoco Products by 1.0% in the second quarter. Teacher Retirement System of Texas now owns 7,952 shares of the industrial products company’s stock worth $409,000 after buying an additional 76 shares during the last quarter. Institutional investors own 73.92% of the company’s stock.

Shares of Sonoco Products Company (NYSE:SON) opened at 48.02 on Friday. The firm has a market capitalization of $4.77 billion, a P/E ratio of 18.23 and a beta of 1.12. Sonoco Products Company has a 12 month low of $47.52 and a 12 month high of $55.58. The company has a 50 day moving average of $50.31 and a 200-day moving average of $51.97.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 11th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.25%. The ex-dividend date is Wednesday, August 9th. Sonoco Products’s payout ratio is presently 59.09%.

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A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. DA Davidson upgraded shares of Sonoco Products from an “underperform” rating to a “neutral” rating and increased their price target for the company from $48.00 to $54.00 in a research report on Friday, April 21st. Zacks Investment Research downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $48.00 price target (up from $47.00) on shares of Sonoco Products in a research report on Sunday, April 23rd. Finally, Barclays PLC reiterated an “underweight” rating and issued a $48.00 price target (up from $45.00) on shares of Sonoco Products in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $52.57.

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.

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

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