17,379 Shares in Sonoco Products Company $SON Purchased by Man Group plc

Man Group plc acquired a new stake in Sonoco Products Company (NYSE:SON) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 17,379 shares of the industrial products company’s stock, valued at approximately $979,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Sonoco Products in the 2nd quarter worth approximately $657,016,000. LSV Asset Management boosted its position in Sonoco Products by 95.7% during the 4th quarter. LSV Asset Management now owns 1,563,390 shares of the industrial products company’s stock worth $68,226,000 after acquiring an additional 764,590 shares during the period. UBS Group AG grew its stake in shares of Sonoco Products by 57.8% in the fourth quarter. UBS Group AG now owns 303,784 shares of the industrial products company’s stock worth $13,257,000 after purchasing an additional 111,295 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Sonoco Products during the fourth quarter valued at $7,774,000. Finally, Natixis Advisors LLC lifted its holdings in Sonoco Products by 18.6% in the fourth quarter. Natixis Advisors LLC now owns 326,547 shares of the industrial products company’s stock worth $14,251,000 after purchasing an additional 51,273 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of NYSE SON opened at $52.77 on Friday. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $60.67. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average of $56.64 and a two-hundred day moving average of $53.77. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.27 and a beta of 0.36.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.04. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the company posted $1.37 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, analysts expect that Sonoco Products Company will post 5.8 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.16 annualized dividend and a dividend yield of 4.1%. Sonoco Products’s dividend payout ratio is currently 34.34%.

Analyst Ratings Changes

SON has been the topic of a number of recent analyst reports. Bank of America downgraded shares of Sonoco Products from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $69.00 to $60.00 in a research report on Thursday. Truist Financial raised their price objective on shares of Sonoco Products from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Weiss Ratings raised Sonoco Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. Finally, Citigroup upped their target price on Sonoco Products from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.78.

Sonoco Products Company 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.