Sonoco Products Company (SON) : 8 days before expiry, shorts in Sonoco Products Company (SON) have reduced from 3,128,432 on Jul 29, 2016, to 2,954,262 on August 15, 2016. On an average, 366,924 shares are traded on the exchange. The outstanding bearish positions are equal to 3% of the float. Short sellers have covered -174,170 shares, a reduction of -5.6%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Sonoco Products Company (NYSE:SON): The stock opened at $51.69 on Wednesday but the bulls could not build on the opening and the stock topped out at $51.84 for the day. The stock traded down to $51.21 during the day, due to lack of any buying support eventually closed down at $51.34 with a loss of -0.70% for the day. The stock had closed at $51.70 on the previous day. The total traded volume was 333,492 shares.
In a related news, The director, of Sonoco Products Co, Lawton Edgar H Iii had unloaded 20,000 shares at $51.08 per share in a transaction on August 4, 2016. The total value of transaction was $1,021,600. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
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 Companys Consumer Packaging segments operations comprise 90 plants across the world. The Companys Display and Packaging segments operations comprise 27 plants around the world including the United States, Poland, Mexico and Brazil. The Companys Paper and Industrial Converted Products segment provides the primary raw material for the Companys fiber-based packaging. The Protective Solutions segments products include custom-engineered, paperboard-based and expanded foam protective packaging and components, and temperature-assured packaging.