Sonoco Products (NYSE:SON) Stake Cut by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in shares of Sonoco Products (NYSE:SONGet Rating) by 10.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,573 shares of the industrial products company’s stock after selling 766 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Sonoco Products were worth $373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in Sonoco Products by 1.3% in the second quarter. State of Alaska Department of Revenue now owns 14,020 shares of the industrial products company’s stock worth $799,000 after buying an additional 185 shares during the period. Creative Planning increased its position in Sonoco Products by 4.1% in the second quarter. Creative Planning now owns 5,426 shares of the industrial products company’s stock worth $309,000 after buying an additional 214 shares during the period. Beacon Pointe Advisors LLC increased its position in Sonoco Products by 3.5% in the first quarter. Beacon Pointe Advisors LLC now owns 7,289 shares of the industrial products company’s stock worth $456,000 after buying an additional 247 shares during the period. Lazard Asset Management LLC increased its position in Sonoco Products by 3.0% in the second quarter. Lazard Asset Management LLC now owns 9,032 shares of the industrial products company’s stock worth $515,000 after buying an additional 259 shares during the period. Finally, Dean Investment Associates LLC increased its position in Sonoco Products by 0.5% in the second quarter. Dean Investment Associates LLC now owns 54,030 shares of the industrial products company’s stock worth $3,082,000 after buying an additional 264 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Sonoco Products Price Performance

Shares of SON opened at $59.26 on Monday. The stock’s fifty day moving average is $60.23 and its 200-day moving average is $60.78. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. Sonoco Products has a one year low of $51.52 and a one year high of $67.06. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.79 and a current ratio of 1.37.

Sonoco Products (NYSE:SONGet Rating) last released its earnings results on Monday, October 31st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.17. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.90 billion. Sonoco Products had a return on equity of 31.56% and a net margin of 6.19%. Sonoco Products’s revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. Equities analysts anticipate that Sonoco Products will post 6.46 EPS for the current year.

Insider Buying and Selling

In related news, insider Ernest D. Haynes III sold 652 shares of Sonoco Products stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $58.60, for a total transaction of $38,207.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SON. BMO Capital Markets lowered Sonoco Products from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $65.00 to $58.00 in a research report on Sunday, October 30th. Bank of America raised Sonoco Products from an “underperform” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Thursday, October 13th. Wells Fargo & Company lowered their price target on Sonoco Products from $67.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 2nd. StockNews.com raised Sonoco Products from a “hold” rating to a “buy” rating in a report on Friday, December 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Sonoco Products from $65.00 to $61.00 in a report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.00.

Sonoco Products Profile

(Get Rating)

Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging, Paper and Industrial Converted Products, Protective Solutions, and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers, fiber and plastic caulk and adhesive tubes, and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.

Featured Stories

Want to see what other hedge funds are holding SON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonoco Products (NYSE:SONGet Rating).

Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.