Fruth Investment Management Sells 1,078 Shares of Sonoco Products Co (SON)

Fruth Investment Management reduced its position in shares of Sonoco Products Co (NYSE:SON) by 2.5% in the first quarter, HoldingsChannel.com reports. The firm owned 41,275 shares of the industrial products company’s stock after selling 1,078 shares during the quarter. Sonoco Products makes up 1.1% of Fruth Investment Management’s investment portfolio, making the stock its 29th largest position. Fruth Investment Management’s holdings in Sonoco Products were worth $2,539,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Sonoco Products by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,385,579 shares of the industrial products company’s stock worth $76,899,000 after purchasing an additional 17,255 shares during the period. Franklin Resources Inc. boosted its position in Sonoco Products by 60.4% during the third quarter. Franklin Resources Inc. now owns 12,326 shares of the industrial products company’s stock valued at $684,000 after purchasing an additional 4,640 shares in the last quarter. Standard Life Aberdeen plc boosted its position in Sonoco Products by 37.8% during the third quarter. Standard Life Aberdeen plc now owns 7,927 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 2,176 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sonoco Products during the third quarter valued at about $445,000. Finally, JPMorgan Chase & Co. boosted its position in Sonoco Products by 29.6% during the third quarter. JPMorgan Chase & Co. now owns 667,632 shares of the industrial products company’s stock valued at $37,053,000 after purchasing an additional 152,423 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

Shares of NYSE:SON traded down $1.38 during trading on Tuesday, hitting $61.25. The stock had a trading volume of 1,048,646 shares, compared to its average volume of 518,778. Sonoco Products Co has a 12-month low of $49.71 and a 12-month high of $62.96. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 3.82 and a beta of 1.01. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.67.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, February 14th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Sonoco Products had a return on equity of 18.94% and a net margin of 5.82%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Sonoco Products Co will post 3.52 EPS for the current fiscal year.

A number of research firms have commented on SON. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. Vertical Research cut Sonoco Products from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Sonoco Products in a research note on Thursday, February 14th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $56.50.

In other news, CFO Barry L. Saunders sold 5,547 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $59.68, for a total value of $331,044.96. Following the completion of the transaction, the chief financial officer now directly owns 77,719 shares in the company, valued at $4,638,269.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin P. Mahoney sold 1,119 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $59.57, for a total value of $66,658.83. Following the completion of the transaction, the senior vice president now owns 2,295 shares of the company’s stock, valued at $136,713.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,829 shares of company stock valued at $1,245,466. Company insiders own 1.30% of the company’s stock.

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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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