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M&T Bank Corp Purchases 50,667 Shares of Sonoco Products Company $SON
M&T Bank Corp significantly increased its stake in Sonoco Products Company by 129.5%, acquiring an additional 50,667 shares to hold a total of 89,798 shares valued at approximately $3.92 million. This increase occurred despite Sonoco missing its Q1 earnings and revenue estimates and reporting a 1.9% year-over-year revenue decrease. However, the company raised its quarterly dividend and its CFO recently purchased a substantial amount of shares, increasing his ownership by nearly 40%.