Weiss Asset Management LP Has $2.98 Million Stock Holdings in Sonoco Products Company $SON

Weiss Asset Management LP boosted its position in Sonoco Products Company (NYSE:SON) by 551.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,090 shares of the industrial products company’s stock after buying an additional 46,632 shares during the period. Weiss Asset Management LP owned approximately 0.06% of Sonoco Products worth $2,980,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. grew its stake in Sonoco Products by 477.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,901,950 shares of the industrial products company’s stock valued at $257,561,000 after acquiring an additional 4,880,438 shares during the period. State Street Corp lifted its holdings in shares of Sonoco Products by 0.3% in the 2nd quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock worth $194,733,000 after purchasing an additional 13,161 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Sonoco Products by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,931,180 shares of the industrial products company’s stock valued at $212,632,000 after purchasing an additional 32,810 shares during the period. Bank of America Corp DE increased its stake in Sonoco Products by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock valued at $122,169,000 after purchasing an additional 162,262 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Sonoco Products by 357.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,117,022 shares of the industrial products company’s stock valued at $90,693,000 after purchasing an additional 1,654,576 shares in the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Stock Performance

Shares of SON stock opened at $58.27 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55. The firm has a 50-day moving average of $52.16 and a 200-day moving average of $52.05. Sonoco Products Company has a one year low of $38.65 and a one year high of $58.62. The company has a market cap of $5.76 billion, a P/E ratio of 9.26, a P/E/G ratio of 1.27 and a beta of 0.37.

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

Sonoco Products Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SON shares. UBS Group reduced their price objective on shares of Sonoco Products from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Argus upgraded shares of Sonoco Products to a “hold” rating in a report on Monday, April 20th. Truist Financial raised their price target on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday. 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. Finally, Weiss Ratings lowered Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, July 20th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Sonoco Products presently has an average rating of “Hold” and a consensus target price of $61.78.

Sonoco Products Profile

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.