UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 53,759 Shares of Sonoco Products (NYSE:SON)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Sonoco Products (NYSE:SON - Free Report) by 15.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,124 shares of the industrial products company's stock after selling 53,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.30% of Sonoco Products worth $14,173,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SON. Vanguard Group Inc. raised its holdings in Sonoco Products by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 11,128,725 shares of the industrial products company's stock valued at $543,638,000 after acquiring an additional 120,843 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sonoco Products by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,471 shares of the industrial products company's stock worth $153,411,000 after purchasing an additional 136,965 shares in the last quarter. Earnest Partners LLC raised its stake in Sonoco Products by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,594,601 shares of the industrial products company's stock valued at $126,746,000 after purchasing an additional 10,661 shares during the period. Cooper Creek Partners Management LLC bought a new stake in Sonoco Products during the 4th quarter valued at approximately $78,203,000. Finally, Invesco Ltd. lifted its holdings in Sonoco Products by 13.0% in the 4th quarter. Invesco Ltd. now owns 1,358,002 shares of the industrial products company's stock worth $66,338,000 after purchasing an additional 155,893 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. bought 5,475 shares of the stock in a transaction dated Wednesday, April 30th. The stock was purchased at an average cost of $40.34 per share, with a total value of $220,861.50. Following the completion of the purchase, the director now owns 29,540 shares of the company's stock, valued at $1,191,643.60. This trade represents a 22.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John R. Haley purchased 2,246 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was bought at an average price of $44.57 per share, for a total transaction of $100,104.22. Following the completion of the acquisition, the director now owns 20,804 shares of the company's stock, valued at approximately $927,234.28. The trade was a 12.10% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 47,721 shares of company stock worth $2,066,366. 0.74% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SON. Jefferies Financial Group began coverage on shares of Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price objective for the company. Raymond James dropped their target price on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Sonoco Products from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company upgraded shares of Sonoco Products from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from $45.00 to $55.00 in a research note on Friday, May 23rd. Finally, Truist Financial dropped their price objective on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.43.

Sonoco Products Trading Up 0.1%

SON traded up $0.03 during trading on Friday, reaching $45.62. The company had a trading volume of 730,690 shares, compared to its average volume of 780,286. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18. The business has a 50 day simple moving average of $44.91 and a 200-day simple moving average of $47.30. The stock has a market cap of $4.50 billion, a P/E ratio of 27.65, a PEG ratio of 0.76 and a beta of 0.68. Sonoco Products has a 52 week low of $39.46 and a 52 week high of $61.73.

Sonoco Products (NYSE:SON - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.03). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $2.02 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. Sonoco Products's revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. On average, equities analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.53 per share. This is a boost from Sonoco Products's previous quarterly dividend of $0.52. The ex-dividend date is Friday, May 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.65%. Sonoco Products's dividend payout ratio is currently 137.66%.

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.