Tradelink Capital adds Sonoco Products Co (SON) to its portfolio

Sonoco Products Co (SON) : Tradelink Capital added new position in Sonoco Products Co during the most recent quarter end. The investment management firm now holds 4,188 shares of Sonoco Products Co which is valued at $212,625 , the company said in a statement filed on Aug 1, 2016 with the SEC.Sonoco Products Co makes up approximately 0.98% of Tradelink Capital’s portfolio.

Other Hedge Funds, Including , Wedge Capital Management L L Pnc reduced its stake in SON by selling 6,579 shares or 40.49% in the most recent quarter. The Hedge Fund company now holds 9,669 shares of SON which is valued at $492,442. Sonoco Products Co makes up approx 0.01% of Wedge Capital Management L L Pnc’s portfolio.Regentatlantic Capital reduced its stake in SON by selling 183 shares or 2.75% in the most recent quarter. The Hedge Fund company now holds 6,469 shares of SON which is valued at $329,531. Sonoco Products Co makes up approx 0.03% of Regentatlantic Capital’s portfolio.

Sonoco Products Co opened for trading at $50.87 and hit $51.31 on the upside on Thursday, eventually ending the session at $50.98, with a gain of 0.41% or 0.21 points. The heightened volatility saw the trading volume jump to 3,66,263 shares. Company has a market cap of $5,137 M.

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.

Investors should note that on Jul 20, 2016, Sonoco Products Co announced a cash dividend of $0.3700. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 9, 2016.

Many Wall Street Analysts have commented on Sonoco Products Co. Sonoco Products Co was Initiated by Goldman to “Neutral” on May 12, 2016.

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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