Sonoco Products (NYSE:SON) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Sonoco Products (NYSE:SON) by 20.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the industrial products company’s stock after buying an additional 2,940 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Sonoco Products were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Sonoco Products by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,969,740 shares of the industrial products company’s stock worth $596,205,000 after purchasing an additional 64,047 shares in the last quarter. Foundry Partners LLC increased its holdings in shares of Sonoco Products by 36.6% in the third quarter. Foundry Partners LLC now owns 72,266 shares of the industrial products company’s stock valued at $3,928,000 after purchasing an additional 19,354 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Sonoco Products during the third quarter worth approximately $624,000. Financial Engines Advisors L.L.C. boosted its stake in Sonoco Products by 84.8% during the third quarter. Financial Engines Advisors L.L.C. now owns 27,600 shares of the industrial products company’s stock worth $1,500,000 after buying an additional 12,661 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in Sonoco Products by 14.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 32,499 shares of the industrial products company’s stock valued at $1,766,000 after buying an additional 4,058 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sonoco Products news, VP Adam Wood sold 537 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total transaction of $30,630.48. Following the transaction, the vice president now directly owns 28,273 shares in the company, valued at $1,612,691.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sonoco Products news, VP Adam Wood sold 537 shares of Sonoco Products stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total value of $30,630.48. Following the completion of the transaction, the vice president now directly owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey S. Tomaszewski sold 10,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.53, for a total transaction of $604,065.00. Following the sale, the insider now directly owns 13,456 shares in the company, valued at approximately $774,123.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,076 shares of company stock valued at $749,002. Company insiders own 0.51% of the company’s stock.

Sonoco Products Price Performance

SON stock opened at $56.13 on Friday. Sonoco Products has a 52-week low of $49.98 and a 52-week high of $63.74. The company has a quick ratio of 1.10, a current ratio of 1.76 and a debt-to-equity ratio of 1.25. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.68. The business has a fifty day moving average of $56.92 and a two-hundred day moving average of $55.90.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the firm posted $1.27 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts anticipate that Sonoco Products will post 5.21 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.52 dividend. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, May 9th. Sonoco Products’s dividend payout ratio is currently 42.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SON shares. Wells Fargo & Company reduced their price target on Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. TheStreet cut shares of Sonoco Products from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Finally, Citigroup reduced their target price on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sonoco Products currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

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.