Rhumbline Advisers Has $13.80 Million Position in Sonoco Products (NYSE:SON)

Rhumbline Advisers boosted its holdings in Sonoco Products (NYSE:SON) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 282,587 shares of the industrial products company’s stock after buying an additional 3,680 shares during the period. Rhumbline Advisers owned approximately 0.29% of Sonoco Products worth $13,804,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Private Management Group Inc. acquired a new stake in Sonoco Products in the third quarter worth $24,994,000. Nordea Investment Management AB raised its holdings in Sonoco Products by 63.2% in the fourth quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock worth $55,181,000 after purchasing an additional 437,128 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Sonoco Products by 50.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock worth $56,223,000 after purchasing an additional 344,658 shares during the period. Meadow Creek Wealth Advisors LLC acquired a new stake in Sonoco Products in the fourth quarter worth $11,672,000. Finally, FMR LLC raised its holdings in Sonoco Products by 70.1% in the third quarter. FMR LLC now owns 559,596 shares of the industrial products company’s stock worth $30,571,000 after purchasing an additional 230,709 shares during the period. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of Sonoco Products stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the transaction, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.51% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on SON shares. StockNews.com lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial lowered their price objective on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Friday. Bank of America increased their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Citigroup lowered their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Robert W. Baird lowered their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.83.

Sonoco Products Stock Up 1.4 %

Sonoco Products stock opened at $46.88 on Friday. The company has a market cap of $4.61 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 0.76 and a beta of 0.67. Sonoco Products has a 1-year low of $44.35 and a 1-year high of $61.73. The company has a fifty day simple moving average of $48.12 and a 200 day simple moving average of $51.03. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18.

Sonoco Products (NYSE:SON) last released its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Research analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Wednesday, February 26th. Sonoco Products’s dividend payout ratio (DPR) is currently 126.06%.

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.