Nisa Investment Advisors LLC Purchases 2,435 Shares of Sonoco Products Company (NYSE:SON)

Nisa Investment Advisors LLC lifted its position in Sonoco Products Company (NYSE:SON) by 43.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,020 shares of the industrial products company’s stock after purchasing an additional 2,435 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Sonoco Products were worth $379,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its position in shares of Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company’s stock worth $45,000 after buying an additional 574 shares during the period. Quarry LP lifted its holdings in Sonoco Products by 111.3% during the fourth quarter. Quarry LP now owns 970 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 511 shares in the last quarter. Colonial Trust Co SC lifted its holdings in Sonoco Products by 90.6% during the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 453 shares in the last quarter. True Wealth Design LLC lifted its holdings in Sonoco Products by 650.7% during the fourth quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 950 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Sonoco Products by 474.8% during the first quarter. Versant Capital Management Inc now owns 2,299 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 1,899 shares in the last quarter. 77.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert R. Hill, Jr. purchased 5,475 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was acquired at an average cost of $40.34 per share, with a total value of $220,861.50. Following the completion of the transaction, the director owned 29,540 shares in the company, valued at $1,191,643.60. This represents a 22.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO R. Howard Coker purchased 20,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $41.17 per share, with a total value of $823,400.00. Following the completion of the transaction, the chief executive officer owned 502,365 shares of the company’s stock, valued at approximately $20,682,367.05. The trade was a 4.15% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 27,721 shares of company stock valued at $1,144,366. Company insiders own 0.74% of the company’s stock.

Sonoco Products Trading Up 0.8%

NYSE:SON opened at $45.67 on Thursday. The company has a 50-day moving average price of $45.29 and a 200-day moving average price of $46.02. Sonoco Products Company has a 12 month low of $39.46 and a 12 month high of $56.77. The company has a current ratio of 0.80, a quick ratio of 0.51 and a debt-to-equity ratio of 2.02. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 0.59 and a beta of 0.68.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.03). Sonoco Products had a return on equity of 21.78% and a net margin of 2.40%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the firm earned $1.12 EPS. Sonoco Products’s revenue for the quarter was up 30.6% compared to the same quarter last year. Equities analysts predict that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.64%. Sonoco Products’s dividend payout ratio is presently 137.66%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SON shares. Jefferies Financial Group began coverage on Sonoco Products in a report on Tuesday, April 22nd. They set a “buy” rating and a $62.00 target price for the company. UBS Group assumed coverage on shares of Sonoco Products in a research report on Wednesday, June 4th. They issued a “neutral” rating and a $48.00 price objective for the company. Truist Financial dropped their price target on shares of Sonoco Products from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, July 11th. Wells Fargo & Company upgraded Sonoco Products from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $45.00 to $55.00 in a research report on Friday, May 23rd. Finally, Raymond James Financial boosted their price objective on Sonoco Products from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.75.

Sonoco Products Company 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.