Nordea Investment Management AB Lowers Stock Holdings in Sonoco Products Co (NYSE:SON)

Nordea Investment Management AB trimmed its stake in shares of Sonoco Products Co (NYSE:SON) by 9.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,781 shares of the industrial products company’s stock after selling 20,723 shares during the period. Nordea Investment Management AB owned about 0.19% of Sonoco Products worth $11,738,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of Sonoco Products by 5,213.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock worth $39,000 after buying an additional 2,027,805 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Sonoco Products by 102.4% during the 1st quarter. Parallel Advisors LLC now owns 755 shares of the industrial products company’s stock worth $46,000 after buying an additional 382 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in shares of Sonoco Products by 54.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 966 shares of the industrial products company’s stock worth $59,000 after buying an additional 339 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Sonoco Products by 40.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,137 shares of the industrial products company’s stock worth $60,000 after buying an additional 328 shares during the last quarter. Finally, Resources Investment Advisors Inc. lifted its stake in shares of Sonoco Products by 30.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,430 shares of the industrial products company’s stock worth $76,000 after buying an additional 330 shares during the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.

Shares of NYSE:SON traded up $0.32 during midday trading on Friday, hitting $65.16. The stock had a trading volume of 486,932 shares, compared to its average volume of 350,700. The stock has a 50-day moving average price of $64.63. The company has a market capitalization of $6.49 billion, a P/E ratio of 19.34, a P/E/G ratio of 3.88 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 1.36 and a debt-to-equity ratio of 0.66. Sonoco Products Co has a fifty-two week low of $50.30 and a fifty-two week high of $66.57.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, April 18th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. Sonoco Products had a net margin of 5.76% and a return on equity of 19.57%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. As a group, equities research analysts expect that Sonoco Products Co will post 3.58 earnings per share for the current fiscal year.

In other Sonoco Products news, SVP R. Howard Coker sold 6,484 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $61.94, for a total transaction of $401,618.96. Following the sale, the senior vice president now directly owns 215,108 shares of the company’s stock, valued at approximately $13,323,789.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Roger P. Schrum sold 812 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $62.25, for a total transaction of $50,547.00. Following the completion of the sale, the vice president now directly owns 7,938 shares in the company, valued at $494,140.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,381 shares of company stock worth $758,537 over the last three months. Insiders own 1.30% of the company’s stock.

A number of analysts have recently issued reports on SON shares. Argus upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Wednesday, April 24th. Bank of America began coverage on shares of Zai Lab in a research note on Friday. They issued a “buy” rating for the company. Vertical Research cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Goldman Sachs Group cut shares of Metcash from a “conviction-buy” rating to a “neutral” rating in a research note on Monday, June 24th. Finally, ValuEngine upgraded shares of YY from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $59.33.

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 offers composite 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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