LSV Asset Management Purchases 410,200 Shares of Sonoco Products Company $SON

LSV Asset Management lifted its position in shares of Sonoco Products Company (NYSE:SON) by 105.6% in the 3rd quarter, Holdings Channel reports. The fund owned 798,800 shares of the industrial products company’s stock after buying an additional 410,200 shares during the quarter. LSV Asset Management’s holdings in Sonoco Products were worth $34,420,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sonoco Products by 44.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock valued at $2,319,000 after purchasing an additional 15,079 shares during the period. Goldman Sachs Group Inc. grew its holdings in Sonoco Products by 80.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock valued at $9,755,000 after buying an additional 92,286 shares in the last quarter. Empowered Funds LLC increased its position in shares of Sonoco Products by 14.1% during the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock valued at $522,000 after buying an additional 1,364 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Sonoco Products by 87.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock worth $25,754,000 after buying an additional 255,055 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Sonoco Products by 122.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,665 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 5,320 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Up 0.7%

Shares of SON stock opened at $51.66 on Friday. The business has a 50-day moving average price of $46.47 and a two-hundred day moving average price of $44.46. Sonoco Products Company has a 12-month low of $38.65 and a 12-month high of $52.38. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. The firm has a market cap of $5.10 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 0.80 and a beta of 0.54.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, February 25th. Sonoco Products’s payout ratio is 33.65%.

Wall Street Analyst Weigh In

SON has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Jefferies Financial Group decreased their price target on shares of Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Zacks Research upgraded Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Raymond James Financial set a $60.00 target price on Sonoco Products in a research note on Monday, January 5th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price target (down previously from $52.00) on shares of Sonoco Products in a report on Tuesday, January 6th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.86.

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.