Weaver C. Barksdale Associates Lowers stake in Sonoco Products Co (SON)

Sonoco Products Co (SON) : Weaver C. Barksdale Associates reduced its stake in Sonoco Products Co by 1.02% during the most recent quarter end. The investment management company now holds a total of 18,553 shares of Sonoco Products Co which is valued at $875,331 after selling 191 shares in Sonoco Products Co according to a report filed by the company on Apr 5, 2016 with the SEC.Sonoco Products Co makes up approximately 0.66% of Weaver C. Barksdale Associates’s portfolio.

Other Hedge Funds, Including , Curbstone Financial Management Corp boosted its stake in SON in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 29,700 shares of Sonoco Products Co which is valued at $1.4 Million. Sonoco Products Co makes up approx 0.47% of Curbstone Financial Management Corp’s portfolio.

On the company’s financial health, Sonoco Products Co reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $0.62. The company had revenue of $1267.00 million for the quarter, compared to analysts expectations of $1284.26 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Sonoco Products Co. DA Davidson Downgraded Sonoco Products Co on Apr 11, 2016 to ” Underperform”, Price Target of the shares are set at $42.Sonoco Products Co was Downgraded by BofA/Merrill to ” Neutral” on Mar 18, 2016.

Sonoco Products Co closed down -0.77 points or -1.61% at $47.18 with 12,83,077 shares getting traded on Monday. Post opening the session at $47.37, the shares hit an intraday low of $46.92 and an intraday high of $47.76 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The Company operates in four segments: Consumer Packaging Paper and Industrial Converted Products Display and Packaging and Protective Solutions. The Company has 335 locations in 33 countries. The Company’s Consumer Packaging segment’s operations comprise 90 plants across the world. The Company’s Display and Packaging segment’s operations comprise 27 plants around the world including the United States Poland Mexico and Brazil. The Company’s Paper and Industrial Converted Products segment provides the primary raw material for the Company’s fiber-based packaging. The Protective Solutions segment’s products include custom-engineered paperboard-based and expanded foam protective packaging and components and temperature-assured packaging.

Leave a Reply

Sonoco Products Co - Is it time to Sell?

Top Brokerage Firms are advising their investors on Sonoco Products Co. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.