Palladium Partners LLC Sells 331 Shares of Sonoco Products Co (NYSE:SON)

Palladium Partners LLC trimmed its position in shares of Sonoco Products Co (NYSE:SON) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,031 shares of the industrial products company’s stock after selling 331 shares during the period. Palladium Partners LLC’s holdings in Sonoco Products were worth $866,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SON. State Street Corp increased its holdings in shares of Sonoco Products by 10.9% in the fourth quarter. State Street Corp now owns 6,888,633 shares of the industrial products company’s stock worth $425,166,000 after purchasing an additional 678,862 shares during the last quarter. Anchor Capital Advisors LLC lifted its stake in Sonoco Products by 88.0% in the 4th quarter. Anchor Capital Advisors LLC now owns 536,005 shares of the industrial products company’s stock worth $33,082,000 after purchasing an additional 250,891 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Sonoco Products by 1.8% during the 2nd quarter. BlackRock Inc. now owns 11,511,630 shares of the industrial products company’s stock worth $752,172,000 after purchasing an additional 203,903 shares during the last quarter. OLD Republic International Corp boosted its holdings in shares of Sonoco Products by 47.6% during the 4th quarter. OLD Republic International Corp now owns 519,200 shares of the industrial products company’s stock worth $32,045,000 after purchasing an additional 167,400 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Sonoco Products by 25.8% in the third quarter. First Trust Advisors LP now owns 749,383 shares of the industrial products company’s stock valued at $43,622,000 after purchasing an additional 153,885 shares in the last quarter. Hedge funds and other institutional investors own 72.25% of the company’s stock.

Shares of NYSE SON traded down $0.76 during trading hours on Friday, reaching $56.85. The stock had a trading volume of 25,243 shares, compared to its average volume of 403,866. The firm has a 50-day moving average of $59.06 and a 200-day moving average of $58.74. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 3.43 and a beta of 0.93. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 0.64. Sonoco Products Co has a fifty-two week low of $55.12 and a fifty-two week high of $66.57.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Sonoco Products had a return on equity of 20.08% and a net margin of 5.99%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts predict that Sonoco Products Co will post 3.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.03%. Sonoco Products’s dividend payout ratio (DPR) is presently 51.04%.

In other news, VP Harold G. Cummings III sold 532 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $60.52, for a total value of $32,196.64. Following the transaction, the vice president now owns 2,832 shares of the company’s stock, valued at $171,392.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James A. Harrell III sold 825 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $60.00, for a total value of $49,500.00. Following the completion of the transaction, the vice president now directly owns 16,413 shares in the company, valued at approximately $984,780. The disclosure for this sale can be found here. Insiders sold a total of 1,858 shares of company stock worth $112,759 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Several equities research analysts recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $56.00 price target on shares of Sonoco Products in a report on Monday, December 30th. ValuEngine upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Thursday. Robert W. Baird downgraded shares of Sonoco Products from an “outperform” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Tuesday, January 7th. Finally, Vertical Group upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $61.20.

Sonoco Products Profile

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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