Fuller & Thaler Asset Management Inc. Trims Stock Position in Sonoco Products (NYSE:SON)

Fuller & Thaler Asset Management Inc. lessened its holdings in Sonoco Products (NYSE:SON - Free Report) by 1.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,102,190 shares of the industrial products company's stock after selling 26,296 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 2.14% of Sonoco Products worth $102,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Principal Securities Inc. grew 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 purchasing an additional 351 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Sonoco Products in the 3rd quarter worth about $71,000. Albion Financial Group UT purchased a new position in shares of Sonoco Products during the fourth quarter worth approximately $84,000. SRS Capital Advisors Inc. raised its stake in shares of Sonoco Products by 311.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock valued at $84,000 after acquiring an additional 1,297 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Sonoco Products by 33.8% during the fourth quarter. GAMMA Investing LLC now owns 3,158 shares of the industrial products company's stock valued at $154,000 after acquiring an additional 798 shares in the last quarter. Institutional investors own 77.69% of the company's stock.

Analyst Upgrades and Downgrades

SON has been the topic of several research reports. Jefferies Financial Group began coverage on Sonoco Products in a report on Tuesday, April 22nd. They set a "buy" rating and a $62.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Monday, February 24th. Truist Financial cut their target price on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Bank of America boosted their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Raymond James dropped their target price 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. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, Sonoco Products presently has an average rating of "Hold" and an average target price of $56.43.

Insider Buying and Selling at Sonoco Products

In other news, Director John R. Haley purchased 3,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the purchase, the director now owns 18,558 shares in the company, valued at $867,772.08. This trade represents a 19.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R. Howard Coker acquired 20,000 shares of Sonoco Products stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $46.10 per share, with a total value of $922,000.00. Following the completion of the purchase, the chief executive officer now owns 482,365 shares of the company's stock, valued at approximately $22,237,026.50. The trade was a 4.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.

Sonoco Products Stock Up 0.0 %

Shares of SON stock traded up $0.02 during trading hours on Monday, reaching $46.21. 158,934 shares of the company's stock were exchanged, compared to its average volume of 749,742. Sonoco Products has a fifty-two week low of $39.46 and a fifty-two week high of $61.73. The stock's 50 day moving average is $45.66 and its 200-day moving average is $48.48. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 0.76 and a beta of 0.64.

Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. Analysts predict that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Sonoco Products's previous quarterly dividend of $0.52. Sonoco Products's payout ratio is currently 128.48%.

Sonoco Products Company 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.