Trust Co of the South Makes New Investment in Sonoco Products (NYSE:SON)

Trust Co of the South bought a new position in shares of Sonoco Products (NYSE:SON) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,894 shares of the industrial products company’s stock, valued at approximately $832,000.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in Sonoco Products by 13.4% during the 1st quarter. State Street Corp now owns 8,240,829 shares of the industrial products company’s stock worth $515,546,000 after buying an additional 972,157 shares during the last quarter. Norges Bank purchased a new stake in Sonoco Products during the 4th quarter worth about $53,429,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Sonoco Products during the 1st quarter worth about $51,618,000. Osaic Holdings Inc. lifted its holdings in Sonoco Products by 1,144.2% during the 2nd quarter. Osaic Holdings Inc. now owns 710,318 shares of the industrial products company’s stock worth $3,684,000 after buying an additional 653,229 shares during the last quarter. Finally, FMR LLC lifted its holdings in Sonoco Products by 1,231.2% during the 3rd quarter. FMR LLC now owns 694,263 shares of the industrial products company’s stock worth $37,733,000 after buying an additional 642,109 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SON. StockNews.com raised Sonoco Products from a “hold” rating to a “buy” rating in a report on Tuesday, November 28th. Wells Fargo & Company reduced their target price on Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Finally, TheStreet downgraded Sonoco Products from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Sonoco Products Stock Performance

SON stock traded down $0.12 during trading on Tuesday, hitting $56.66. The company had a trading volume of 507,294 shares, compared to its average volume of 444,105. The firm has a market cap of $5.56 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.15 and a beta of 0.69. Sonoco Products has a 1-year low of $49.98 and a 1-year high of $63.74. The firm has a 50-day moving average price of $56.96 and a 200-day moving average price of $55.49. The company has a quick ratio of 1.10, a current ratio of 1.76 and a debt-to-equity ratio of 1.25.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. On average, analysts expect that Sonoco Products will post 5.25 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.60%. The ex-dividend date was Tuesday, February 27th. Sonoco Products’s payout ratio is 42.50%.

Insiders Place Their Bets

In other Sonoco Products news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.53, for a total transaction of $604,065.00. Following the transaction, the insider now owns 13,456 shares in the company, valued at approximately $774,123.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Russell K. Grissett sold 2,039 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $56.06, for a total value of $114,306.34. Following the sale, the insider now owns 11,988 shares in the company, valued at approximately $672,047.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey S. Tomaszewski sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.53, for a total value of $604,065.00. Following the completion of the sale, the insider now owns 13,456 shares in the company, valued at approximately $774,123.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,076 shares of company stock worth $749,002. Company 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.