Sonoco Products (NYSE:SON) released its quarterly earnings data on Thursday. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01), Bloomberg Earnings reports. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. Sonoco Products’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. Sonoco Products updated its Q1 guidance to $0.69-0.75 EPS and its FY18 guidance to $3.16-3.26 EPS.
Shares of Sonoco Products (NYSE:SON) traded down $1.78 during midday trading on Thursday, reaching $49.05. 125,761 shares of the company traded hands, compared to its average volume of 466,305. Sonoco Products has a twelve month low of $47.10 and a twelve month high of $55.77. The company has a market cap of $4,988.93, a PE ratio of 18.35, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.11 and a current ratio of 1.59.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Wednesday, February 28th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.18%. Sonoco Products’s payout ratio is 57.35%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SON. Janus Henderson Group PLC lifted its position in Sonoco Products by 56.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,011,830 shares of the industrial products company’s stock valued at $51,047,000 after acquiring an additional 363,692 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Sonoco Products by 15.7% during the 3rd quarter. American Century Companies Inc. now owns 2,579,422 shares of the industrial products company’s stock worth $130,132,000 after buying an additional 349,455 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Sonoco Products during the 3rd quarter worth approximately $15,695,000. Allianz Asset Management GmbH lifted its position in shares of Sonoco Products by 743.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 235,196 shares of the industrial products company’s stock worth $11,865,000 after buying an additional 207,320 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Sonoco Products by 376.8% during the 3rd quarter. Stifel Financial Corp now owns 166,379 shares of the industrial products company’s stock worth $8,393,000 after buying an additional 131,485 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.
Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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