Fruth Investment Management Lowers stake in Sonoco Products Co (SON)

Sonoco Products Co (SON) : Fruth Investment Management reduced its stake in Sonoco Products Co by 1.47% during the most recent quarter end. The investment management company now holds a total of 33,500 shares of Sonoco Products Co which is valued at $1,671,985 after selling 500 shares in Sonoco Products Co , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Sonoco Products Co makes up approximately 0.85% of Fruth Investment Management’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in SON in the latest quarter, The investment management firm added 2,517 additional shares and now holds a total of 64,868 shares of Sonoco Products Co which is valued at $3,237,562.Advisory Services Network boosted its stake in SON in the latest quarter, The investment management firm added 139 additional shares and now holds a total of 20,825 shares of Sonoco Products Co which is valued at $1,056,244. Sonoco Products Co makes up approx 0.20% of Advisory Services Network’s portfolio. Washington Trust Bank added SON to its portfolio by purchasing 18 company shares during the most recent quarter which is valued at $917. Eqis Capital Management sold out all of its stake in SON during the most recent quarter. The investment firm sold 4,426 shares of SON which is valued $225,416.

Sonoco Products Co closed down -0.74 points or -1.46% at $49.91 with 4,19,327 shares getting traded on Tuesday. Post opening the session at $50.36, the shares hit an intraday low of $49.7372 and an intraday high of $50.37 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Sonoco Products Co reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $1205.68 million for the quarter, compared to analysts expectations of $1255.63 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

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.

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