MML Investors Services LLC Has $220,000 Holdings in Sonoco Products (NYSE:SON)

MML Investors Services LLC decreased its position in Sonoco Products (NYSE:SON) by 15.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,022 shares of the industrial products company’s stock after selling 748 shares during the period. MML Investors Services LLC’s holdings in Sonoco Products were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SON. Kennebec Savings Bank purchased a new stake in Sonoco Products in the 3rd quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of Sonoco Products in the third quarter worth $33,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Sonoco Products during the second quarter worth $50,000. Northwestern Mutual Wealth Management Co. boosted its position in Sonoco Products by 821.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 1,675 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Sonoco Products in the third quarter valued at about $111,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Robert W. Baird lowered their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Truist Financial started coverage on shares of Sonoco Products in a research report on Tuesday, November 26th. They issued a “buy” rating and a $63.00 target price for the company. Finally, Citigroup raised their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $49.20 on Friday. The business has a fifty day moving average of $51.19 and a 200-day moving average of $52.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The firm has a market cap of $4.83 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 2.14 and a beta of 0.67.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 earnings per share. On average, equities research analysts predict that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.23%. Sonoco Products’s payout ratio is 71.48%.

About Sonoco Products

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.