Mutual of America Capital Management LLC Has $2.54 Million Position in Sonoco Products (NYSE:SON)

Mutual of America Capital Management LLC cut its stake in Sonoco Products (NYSE:SON) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,905 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Sonoco Products worth $2,536,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SON. Geode Capital Management LLC increased its stake in Sonoco Products by 2.3% in the third quarter. Geode Capital Management LLC now owns 1,863,756 shares of the industrial products company’s stock valued at $101,842,000 after purchasing an additional 42,701 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Sonoco Products by 63.2% in the 4th quarter. Nordea Investment Management AB now owns 1,129,133 shares of the industrial products company’s stock valued at $55,181,000 after buying an additional 437,128 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Sonoco Products by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,107,635 shares of the industrial products company’s stock worth $54,108,000 after buying an additional 9,899 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Sonoco Products by 50.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock worth $56,223,000 after buying an additional 344,658 shares during the period. Finally, Private Management Group Inc. lifted its holdings in Sonoco Products by 27.7% during the fourth quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock worth $28,547,000 after acquiring an additional 126,867 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of SON opened at $47.80 on Friday. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. Sonoco Products has a twelve month low of $44.35 and a twelve month high of $61.73. The stock has a market capitalization of $4.70 billion, a P/E ratio of 28.97, a P/E/G ratio of 0.76 and a beta of 0.61. The company has a 50 day moving average of $47.59 and a 200-day moving average of $50.85.

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). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.67 billion. As a group, equities research analysts forecast that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.35%. Sonoco Products’s dividend payout ratio (DPR) is presently 126.06%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup lowered their price target on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company cut their price target on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, February 24th. 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, February 21st. Finally, Bank of America raised their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.50.

Insider Buying and Selling at Sonoco Products

In other news, Director John R. Haley purchased 3,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the completion of the purchase, the director now directly owns 18,558 shares in the company, valued at $867,772.08. The trade was a 19.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the transaction, the director now owns 16,065 shares in the company, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

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.