Twinbeech Capital LP Acquires New Position in Sonoco Products (NYSE:SON)

Twinbeech Capital LP acquired a new stake in Sonoco Products (NYSE:SON) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,001 shares of the industrial products company’s stock, valued at approximately $570,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC raised its position in Sonoco Products by 4.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 116,870 shares of the industrial products company’s stock worth $6,925,000 after acquiring an additional 5,100 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Sonoco Products during the fourth quarter worth about $213,000. Public Employees Retirement System of Ohio raised its position in Sonoco Products by 28.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 49,216 shares of the industrial products company’s stock worth $2,916,000 after acquiring an additional 11,023 shares during the last quarter. LPL Financial LLC raised its position in Sonoco Products by 10.1% during the fourth quarter. LPL Financial LLC now owns 19,161 shares of the industrial products company’s stock worth $1,135,000 after acquiring an additional 1,759 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Sonoco Products by 2.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 17,199 shares of the industrial products company’s stock worth $1,019,000 after acquiring an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

In other Sonoco Products news, VP Roger P. Schrum sold 3,102 shares of the business’s stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $67.97, for a total transaction of $210,842.94. Following the completion of the sale, the vice president now directly owns 14,106 shares in the company, valued at $958,784.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rodger D. Fuller sold 7,204 shares of the business’s stock in a transaction that occurred on Wednesday, May 12th. The stock was sold at an average price of $67.95, for a total transaction of $489,511.80. Following the sale, the executive vice president now owns 83,430 shares of the company’s stock, valued at $5,669,068.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,100 shares of company stock valued at $752,759. 0.56% of the stock is owned by insiders.

Sonoco Products stock opened at $65.64 on Thursday. Sonoco Products has a 1 year low of $48.20 and a 1 year high of $69.83. The firm has a 50 day moving average of $66.98. The stock has a market capitalization of $6.60 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 3.67 and a beta of 0.83. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 0.65.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, April 21st. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. Sonoco Products had a net margin of 3.77% and a return on equity of 18.20%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. Sonoco Products’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Sonoco Products will post 3.6 EPS for the current fiscal year.

SON has been the subject of a number of research reports. Wells Fargo & Company restated an “equal weight” rating and set a $69.00 target price on shares of Sonoco Products in a research report on Wednesday, April 14th. Seaport Global Securities reiterated a “neutral” rating on shares of Sonoco Products in a report on Thursday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Sonoco Products from $61.00 to $63.00 in a report on Monday, April 19th. Seven investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $63.33.

Sonoco Products Profile

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment provides paper and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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

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