Weiss Asset Management LP Buys 46,632 Shares of Sonoco Products Company $SON

Weiss Asset Management LP increased its stake in shares of Sonoco Products Company (NYSE:SON) by 551.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 55,090 shares of the industrial products company’s stock after buying an additional 46,632 shares during the quarter. Weiss Asset Management LP’s holdings in Sonoco Products were worth $2,980,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SON. SBI Securities Co. Ltd. grew its position in shares of Sonoco Products by 77.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 258 shares during the period. LRI Investments LLC bought a new stake in shares of Sonoco Products in the 4th quarter worth approximately $29,000. WPG Advisers LLC lifted its stake in Sonoco Products by 93.1% in the first quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 295 shares during the last quarter. Larson Financial Group LLC lifted its stake in Sonoco Products by 1,826.9% in the third quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 950 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Sonoco Products during the fourth quarter valued at $47,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SON has been the subject of a number of recent research reports. Weiss Ratings downgraded Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Robert W. Baird cut their price target on Sonoco Products from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Argus raised Sonoco Products to a “hold” rating in a report on Monday, April 20th. UBS Group lowered their price objective on Sonoco Products from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Finally, Truist Financial upped their price objective on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Sonoco Products has a consensus rating of “Hold” and an average target price of $61.78.

Sonoco Products Trading Up 0.1%

Shares of SON stock opened at $58.27 on Monday. The company’s fifty day simple moving average is $52.16 and its two-hundred day simple moving average is $52.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $58.62. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.27 and a beta of 0.37.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%.The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company earned $1.37 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, analysts anticipate that Sonoco Products Company will post 5.79 earnings per share for the current year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 dividend on an annualized basis and a yield of 3.7%. Sonoco Products’s dividend payout ratio is 34.34%.

About Sonoco Products

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.