Evanson Asset Management LLC decreased its stake in shares of Sonoco Products Company (NYSE:SON – Free Report) by 8.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,927 shares of the industrial products company’s stock after selling 270 shares during the period. Evanson Asset Management LLC’s holdings in Sonoco Products were worth $138,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of SON. Rhumbline Advisers grew its position in Sonoco Products by 1.3% in the 4th quarter. Rhumbline Advisers now owns 282,587 shares of the industrial products company’s stock valued at $13,804,000 after purchasing an additional 3,680 shares during the period. Principal Securities Inc. grew its position in Sonoco Products by 35.0% in the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 351 shares during the period. State of New Jersey Common Pension Fund D grew its position in Sonoco Products by 15.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 42,675 shares of the industrial products company’s stock valued at $2,085,000 after purchasing an additional 5,564 shares during the period. Sanctuary Advisors LLC grew its position in Sonoco Products by 2.6% in the 4th quarter. Sanctuary Advisors LLC now owns 17,942 shares of the industrial products company’s stock valued at $866,000 after purchasing an additional 460 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Sonoco Products by 110.1% in the 4th quarter. Venturi Wealth Management LLC now owns 7,378 shares of the industrial products company’s stock valued at $360,000 after purchasing an additional 3,866 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.
Insider Activity at Sonoco Products
In other news, Director John R. Haley acquired 2,246 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average cost of $44.57 per share, for a total transaction of $100,104.22. Following the purchase, the director now owns 20,804 shares of the company’s stock, valued at approximately $927,234.28. The trade was a 12.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R. Howard Coker acquired 20,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average price of $41.17 per share, for a total transaction of $823,400.00. Following the completion of the purchase, the chief executive officer now directly owns 502,365 shares in the company, valued at $20,682,367.05. This trade represents a 4.15% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 27,721 shares of company stock worth $1,144,366. Company insiders own 0.74% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on SON
Sonoco Products Trading Down 0.9%
NYSE SON opened at $43.08 on Friday. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 0.54 and a beta of 0.70. Sonoco Products Company has a one year low of $39.46 and a one year high of $56.84. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.80 and a quick ratio of 0.51. The business’s fifty day moving average is $44.96 and its 200-day moving average is $46.66.
Sonoco Products (NYSE:SON – Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.03). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $2.02 billion. Sonoco Products had a return on equity of 21.78% and a net margin of 2.40%. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Equities research analysts predict that Sonoco Products Company will post 6.1 EPS for the current year.
Sonoco Products Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $0.53 dividend. This is a boost from Sonoco Products’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Friday, May 9th. Sonoco Products’s payout ratio is currently 137.66%.
Sonoco Products Profile
Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.
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