We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Sonoco (SON) Announces Hike in Price for URB Products
Read MoreHide Full Article
Sonoco Products Co. (SON - Free Report) declared that it will increase the price of all grades of uncoated recycled paperboard (URB) products by $40 to $60 per ton depending on grade. The raised price will be effective on shipments in the U.S. and Canada beginning Oct 3, 2016.
The price rise has been necessitated chiefly by the increasing operating costs. This move will assist Sonoco to continue providing high-quality, value-adding products to customers.
URBs are the key products of Sonoco’s Paper and Industrial Converted Products segment. The segment accounted for approximately 34% of its consolidated net sales in 2015.
The company witnessed solid results in 2015 led by the strong year-over-year improvement in Consumer Packaging and Protective Solutions segments, partially offset by lower results in its Paper and Industrial Converted Products segment. The Paper and Industrial Converted Products segment was affected by higher labor, pension, maintenance and other operating costs as well as the impact of foreign currency translation.
Sonoco is constantly seeking the most cost-effective means and structure to serve its customers. As such, restructuring costs are expected to be a recurring component of the company’s operating costs.
Thus, Sonoco normally increases prices to counter the rising raw material costs. It will continue to monitor market conditions to determine if additional pricing actions will be required.
South Carolina-based Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services. It is also the largest producer of paper-based tubes and cores in North America.
At present, Sonoco carries a Zacks Rank #3 (Hold).
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Sonoco (SON) Announces Hike in Price for URB Products
Sonoco Products Co. (SON - Free Report) declared that it will increase the price of all grades of uncoated recycled paperboard (URB) products by $40 to $60 per ton depending on grade. The raised price will be effective on shipments in the U.S. and Canada beginning Oct 3, 2016.
The price rise has been necessitated chiefly by the increasing operating costs. This move will assist Sonoco to continue providing high-quality, value-adding products to customers.
URBs are the key products of Sonoco’s Paper and Industrial Converted Products segment. The segment accounted for approximately 34% of its consolidated net sales in 2015.
SONOCO PRODUCTS Price
SONOCO PRODUCTS Price | SONOCO PRODUCTS Quote
The company witnessed solid results in 2015 led by the strong year-over-year improvement in Consumer Packaging and Protective Solutions segments, partially offset by lower results in its Paper and Industrial Converted Products segment. The Paper and Industrial Converted Products segment was affected by higher labor, pension, maintenance and other operating costs as well as the impact of foreign currency translation.
Sonoco is constantly seeking the most cost-effective means and structure to serve its customers. As such, restructuring costs are expected to be a recurring component of the company’s operating costs.
Thus, Sonoco normally increases prices to counter the rising raw material costs. It will continue to monitor market conditions to determine if additional pricing actions will be required.
South Carolina-based Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services. It is also the largest producer of paper-based tubes and cores in North America.
At present, Sonoco carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the same industry include Berry Plastics Group, Inc. (BERY - Free Report) , Packaging Corporation of America (PKG - Free Report) and UFP Technologies, Inc. (UFPT - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>