Universal Beteiligungs und Servicegesellschaft mbH Takes $1.11 Million Position in Sonoco Products Company (NYSE:SON)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 23,568 shares of Sonoco Products, valued at approximately $1,113,000, boosting interest from institutional investors who now own 77.69% of the company's stock.
• Sonoco Products' stock saw a 1.8% decline recently, trading at $44.24, with a current market cap of $4.36 billion and a price-to-earnings ratio of 7.93.
• The company announced a quarterly dividend of $0.53 per share, providing an annual yield of 4.8%, with an ex-dividend date set for August 8th.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Sonoco Products Company (NYSE:SON - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 23,568 shares of the industrial products company's stock, valued at approximately $1,113,000.

Several other large investors also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. raised its position in Sonoco Products by 508.1% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 900 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 752 shares during the last quarter. UMB Bank n.a. raised its position in shares of 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 acquiring an additional 574 shares during the last quarter. Colonial Trust Co SC raised its position in shares of Sonoco Products by 90.6% during the fourth quarter. Colonial Trust Co SC now owns 953 shares of the industrial products company's stock worth $47,000 after acquiring an additional 453 shares during the last quarter. Quarry LP grew its stake in Sonoco Products by 111.3% during the fourth quarter. Quarry LP now owns 970 shares of the industrial products company's stock worth $47,000 after purchasing an additional 511 shares during the period. Finally, Allworth Financial LP grew its stake in Sonoco Products by 152.0% during the first 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 during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Trading Up 0.6%

NYSE SON traded up $0.27 during mid-day trading on Tuesday, reaching $45.04. 244,322 shares of the stock were exchanged, compared to its average volume of 865,099. Sonoco Products Company has a 1-year low of $39.46 and a 1-year high of $56.77. The business's fifty day simple moving average is $45.57 and its 200 day simple moving average is $45.91. The stock has a market capitalization of $4.44 billion, a PE ratio of 8.08, a PEG ratio of 0.60 and a beta of 0.69. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.72 and a current ratio of 1.25.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $1.44 by ($0.07). The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.92 billion. Sonoco Products had a return on equity of 20.46% and a net margin of 8.35%. The business's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 EPS. On average, research analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, August 8th. Sonoco Products's payout ratio is presently 37.99%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company upgraded Sonoco Products from an "underweight" rating to an "overweight" rating and boosted their price objective for the company from $45.00 to $55.00 in a research note on Friday, May 23rd. Jefferies Financial Group began coverage on Sonoco Products in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price target on the stock. UBS Group lifted their target price on Sonoco Products from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Raymond James Financial boosted their price objective on Sonoco Products from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Truist Financial boosted their price objective on Sonoco Products from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.63.

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.