Carroll Financial Associates Inc. Has $2.37 Million Stake in Sonoco Products Co (SON)

Carroll Financial Associates Inc. lifted its stake in Sonoco Products Co (NYSE:SON) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,560 shares of the industrial products company’s stock after buying an additional 225 shares during the period. Carroll Financial Associates Inc.’s holdings in Sonoco Products were worth $2,368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Sonoco Products in the third quarter worth about $161,000. Pratt Collard Advisory Partners LLC purchased a new position in shares of Sonoco Products in the third quarter worth about $206,000. Howland Capital Management LLC purchased a new position in shares of Sonoco Products in the third quarter worth about $210,000. Eaton Vance Management purchased a new position in shares of Sonoco Products in the third quarter worth about $212,000. Finally, MAI Capital Management purchased a new position in shares of Sonoco Products in the second quarter worth about $214,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

In other Sonoco Products news, VP Marcy J. Thompson sold 693 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $55.00, for a total transaction of $38,115.00. Following the transaction, the vice president now owns 15,410 shares in the company, valued at approximately $847,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James A. Harrell III sold 734 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $57.00, for a total value of $41,838.00. Following the transaction, the vice president now owns 13,881 shares in the company, valued at approximately $791,217. The disclosure for this sale can be found here. Insiders have sold a total of 1,532 shares of company stock worth $85,851 in the last quarter. Company insiders own 1.70% of the company’s stock.

Shares of SON stock traded down $0.18 during midday trading on Friday, reaching $53.75. 4,106 shares of the stock were exchanged, compared to its average volume of 408,340. Sonoco Products Co has a 1 year low of $46.55 and a 1 year high of $58.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.19 and a current ratio of 1.66. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 3.24 and a beta of 0.98.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, October 18th. The industrial products company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Sonoco Products had a return on equity of 18.42% and a net margin of 4.53%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts forecast that Sonoco Products Co will post 3.34 earnings per share for the current year.

A number of brokerages recently issued reports on SON. KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Thursday, October 18th. Zacks Investment Research downgraded Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, Wells Fargo & Co set a $55.00 price target on Sonoco Products and gave the company a “hold” rating in a report on Monday, December 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.67.

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Sonoco Products Company 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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