MTM Investment Management LLC acquired a new position in Sonoco Products Company (NYSE:SON - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,766 shares of the industrial products company's stock, valued at approximately $372,000.
Several other hedge funds and other institutional investors have also bought and sold shares of SON. UMB Bank n.a. boosted its position in Sonoco Products by 152.7% during the 1st quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 574 shares in the last quarter. Quarry LP boosted its position in shares of Sonoco Products by 111.3% in the 4th quarter. Quarry LP now owns 970 shares of the industrial products company's stock worth $47,000 after purchasing an additional 511 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Sonoco Products by 90.6% in the 4th quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after purchasing an additional 453 shares in the last quarter. Allworth Financial LP boosted its position in shares of Sonoco Products by 152.0% in the 1st quarter. Allworth Financial LP now owns 1,071 shares of the industrial products company's stock worth $50,000 after purchasing an additional 646 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Sonoco Products by 650.7% in the 4th quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company's stock worth $54,000 after purchasing an additional 950 shares in the last quarter. Institutional investors own 77.69% of the company's stock.
Sonoco Products Stock Performance
Shares of NYSE SON traded up $0.60 during trading on Thursday, reaching $46.27. 632,435 shares of the company traded hands, compared to its average volume of 766,877. The firm's fifty day simple moving average is $45.31 and its 200 day simple moving average is $46.00. The stock has a market cap of $4.56 billion, a P/E ratio of 30.04, a PEG ratio of 0.59 and a beta of 0.68. Sonoco Products Company has a 12-month low of $39.46 and a 12-month high of $56.77. The company has a current ratio of 0.80, a quick ratio of 0.51 and a debt-to-equity ratio of 2.02.
Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $1.38 earnings per share for the quarter, missing analysts' consensus estimates of $1.41 by ($0.03). The company had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $2.02 billion. Sonoco Products had a net margin of 2.40% and a return on equity of 21.78%. The business's quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. As a group, research analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.
Sonoco Products Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a $0.53 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.12 annualized dividend and a dividend yield of 4.58%. Sonoco Products's dividend payout ratio is presently 137.66%.
Insider Activity at Sonoco Products
In other news, CEO R. Howard Coker acquired 20,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were bought at an average cost of $41.17 per share, for a total transaction of $823,400.00. Following the acquisition, the chief executive officer owned 502,365 shares in the company, valued at approximately $20,682,367.05. This represents a 4.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert R. Hill, Jr. acquired 5,475 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average price of $40.34 per share, for a total transaction of $220,861.50. Following the completion of the acquisition, the director owned 29,540 shares in the company, valued at $1,191,643.60. The trade was a 22.75% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 27,721 shares of company stock worth $1,144,366 in the last 90 days. Corporate insiders own 0.74% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on SON shares. Truist Financial lowered their price objective on Sonoco Products from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Wells Fargo & Company raised Sonoco Products from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $45.00 to $55.00 in a research report on Friday, May 23rd. Raymond James Financial raised their target price on Sonoco Products from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wall Street Zen upgraded Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, UBS Group began coverage on Sonoco Products in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $48.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.75.
Check Out Our Latest Stock Report on SON
Sonoco Products Profile
(
Free Report)
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.
Featured Stories

Before you consider Sonoco Products, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonoco Products wasn't on the list.
While Sonoco Products currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.