Tounjian Advisory Partners LLC Invests $925,000 in Sonoco Products (NYSE:SON)

Tounjian Advisory Partners LLC purchased a new stake in shares of Sonoco Products (NYSE:SON - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,588 shares of the industrial products company's stock, valued at approximately $925,000.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. raised its position 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 valued at $45,000 after purchasing an additional 574 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of Sonoco Products by 90.6% in the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after buying an additional 453 shares during the period. Quarry LP increased its holdings in shares of Sonoco Products by 111.3% in the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock worth $47,000 after buying an additional 511 shares during the period. True Wealth Design LLC increased its holdings in shares of Sonoco Products by 650.7% in the fourth 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 period. Finally, Principal Securities Inc. increased its holdings in shares of Sonoco Products by 35.0% in the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock worth $66,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 77.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SON. Raymond James decreased their price objective on Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. UBS Group began coverage on Sonoco Products in a report on Wednesday, June 4th. They issued a "neutral" rating and a $48.00 price objective on the stock. Truist Financial decreased their price objective on Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company upgraded Sonoco Products from an "underweight" rating to an "overweight" rating and lifted their price objective for the stock from $45.00 to $55.00 in a report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Sonoco Products has an average rating of "Moderate Buy" and a consensus target price of $56.25.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, Director Robert R. Hill, Jr. bought 5,475 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were acquired at an average cost of $40.34 per share, for a total transaction of $220,861.50. Following the purchase, the director now owns 29,540 shares in the company, valued at approximately $1,191,643.60. This trade represents a 22.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Haley purchased 2,246 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was purchased at an average price of $44.57 per share, for a total transaction of $100,104.22. Following the completion of the purchase, the director now owns 20,804 shares in the company, valued at approximately $927,234.28. The trade was a 12.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 27,721 shares of company stock worth $1,144,366. Insiders own 0.74% of the company's stock.

Sonoco Products Trading Down 2.8%

SON traded down $1.28 during midday trading on Friday, reaching $44.36. 618,325 shares of the company's stock traded hands, compared to its average volume of 783,551. The firm has a fifty day moving average of $44.83 and a two-hundred day moving average of $46.94. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 0.76 and a beta of 0.70. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. Sonoco Products has a 52 week low of $39.46 and a 52 week high of $57.81.

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 business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $2.02 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The company's revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. On average, equities analysts anticipate that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.78%. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, May 9th. Sonoco Products's dividend payout ratio (DPR) is currently 137.66%.

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.