Sonoco Products Company (NYSE:SON) Stock Position Raised by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC grew its holdings in shares of Sonoco Products Company (NYSE:SON - Free Report) by 161.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,456 shares of the industrial products company's stock after purchasing an additional 17,574 shares during the quarter. Pinion Investment Advisors LLC's holdings in Sonoco Products were worth $1,344,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. grew its stake in Sonoco Products by 152.7% during the first quarter. UMB Bank n.a. now owns 950 shares of the industrial products company's stock worth $45,000 after buying an additional 574 shares during the period. Colonial Trust Co SC raised its holdings in Sonoco Products by 90.6% in the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 453 shares in the last quarter. Quarry LP raised its stake 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 valued at $47,000 after purchasing an additional 511 shares in the last quarter. True Wealth Design LLC lifted its holdings in Sonoco Products by 650.7% during the 4th quarter. True Wealth Design LLC now owns 1,096 shares of the industrial products company's stock worth $54,000 after buying an additional 950 shares during the last quarter. Finally, Principal Securities Inc. raised its position in shares of Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock valued at $66,000 after acquiring an additional 351 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.

Insider Transactions at Sonoco Products

In related news, Director Robert R. Hill, Jr. acquired 5,475 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was bought at an average price of $40.34 per share, for a total transaction of $220,861.50. Following the transaction, the director now owns 29,540 shares of the company's stock, valued at approximately $1,191,643.60. The trade was a 22.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R. Howard Coker purchased 20,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average price of $41.17 per share, with a total value of $823,400.00. Following the transaction, the chief executive officer now directly owns 502,365 shares in the company, valued at $20,682,367.05. This trade represents a 4.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 27,721 shares of company stock valued at $1,144,366. Corporate insiders own 0.74% of the company's stock.

Sonoco Products Stock Performance

Shares of NYSE SON traded down $0.33 during midday trading on Wednesday, reaching $43.45. 574,923 shares of the company traded hands, compared to its average volume of 812,402. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 0.56 and a beta of 0.70. The stock has a 50-day moving average price of $44.93 and a 200 day moving average price of $46.80. Sonoco Products Company has a 52 week low of $39.46 and a 52 week high of $57.21. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.80 and a quick ratio of 0.51.

Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.38 EPS 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 the consensus estimate of $2.02 billion. Sonoco Products had a return on equity of 21.78% and a net margin of 2.40%. The firm's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. Sell-side analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 4.88%. Sonoco Products's dividend payout ratio (DPR) is 137.66%.

Analysts Set New Price Targets

Several research firms recently weighed in on SON. Wells Fargo & Company upgraded shares of Sonoco Products from an "underweight" rating to an "overweight" rating and increased their price objective for the stock from $45.00 to $55.00 in a research note on Friday, May 23rd. Raymond James Financial dropped their price target on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Sonoco Products in a report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price target on the stock. UBS Group initiated coverage on Sonoco Products in a research note on Wednesday, June 4th. They set a "neutral" rating and a $48.00 price objective for the company. Finally, Wall Street Zen raised Sonoco Products from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.25.

About Sonoco Products

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.