Cwm LLC Acquires 1,736 Shares of Sonoco Products (NYSE:SON)

Cwm LLC raised its holdings in Sonoco Products (NYSE:SON) by 751.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,967 shares of the industrial products company’s stock after purchasing an additional 1,736 shares during the period. Cwm LLC’s holdings in Sonoco Products were worth $110,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SON. Vanguard Group Inc. grew its holdings in shares of Sonoco Products by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,969,740 shares of the industrial products company’s stock valued at $596,205,000 after purchasing an additional 64,047 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Sonoco Products by 20.2% during the third quarter. American Century Companies Inc. now owns 2,787,019 shares of the industrial products company’s stock worth $151,474,000 after buying an additional 467,431 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Sonoco Products by 6.8% during the third quarter. Earnest Partners LLC now owns 2,181,648 shares of the industrial products company’s stock worth $118,573,000 after buying an additional 138,181 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Sonoco Products by 3.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,279,667 shares of the industrial products company’s stock valued at $69,550,000 after acquiring an additional 46,870 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Sonoco Products by 17.1% during the 3rd quarter. Sei Investments Co. now owns 974,833 shares of the industrial products company’s stock valued at $52,982,000 after acquiring an additional 142,592 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Trading Up 0.6 %

Shares of SON stock opened at $57.12 on Tuesday. The stock has a 50-day moving average of $56.91 and a 200-day moving average of $56.06. The company has a current ratio of 1.31, a quick ratio of 0.83 and a debt-to-equity ratio of 1.08. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.19 and a beta of 0.68. Sonoco Products has a 1-year low of $49.98 and a 1-year high of $63.74.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.07. Sonoco Products had a net margin of 5.86% and a return on equity of 20.79%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $1.40 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Sonoco Products will post 5.19 earnings per share for the current year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, May 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 51.52%.

Insider Transactions at Sonoco Products

In related news, VP Adam Wood sold 537 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 28,273 shares of the company’s stock, valued at $1,612,691.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Adam Wood sold 537 shares of the stock in a transaction on Wednesday, March 6th. The shares were 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 of the company’s stock, valued at $1,612,691.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Russell K. Grissett sold 2,039 shares of Sonoco Products stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total transaction of $114,306.34. Following the completion of the sale, the insider now directly owns 11,988 shares of the company’s stock, valued at $672,047.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,076 shares of company stock valued at $749,002. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

SON has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Sonoco Products from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Friday. TheStreet lowered shares of Sonoco Products from a “b-” rating to a “c+” rating in a 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 report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.33.

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.