Nebula Research & Development LLC Acquires Shares of 10,582 Sonoco Products (NYSE:SON)

Nebula Research & Development LLC bought a new stake in shares of Sonoco Products (NYSE:SON - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,582 shares of the industrial products company's stock, valued at approximately $517,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SON. Arizona State Retirement System raised its position in shares of Sonoco Products by 0.8% in the 4th quarter. Arizona State Retirement System now owns 28,516 shares of the industrial products company's stock valued at $1,393,000 after purchasing an additional 224 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Sonoco Products by 3.6% in the fourth quarter. IFP Advisors Inc now owns 7,073 shares of the industrial products company's stock worth $346,000 after buying an additional 243 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Sonoco Products by 3.9% during the fourth quarter. Wedmont Private Capital now owns 6,652 shares of the industrial products company's stock worth $306,000 after buying an additional 247 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Sonoco Products by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,056 shares of the industrial products company's stock worth $2,103,000 after buying an additional 270 shares during the period. Finally, Pallas Capital Advisors LLC grew its holdings in shares of Sonoco Products by 6.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,701 shares of the industrial products company's stock valued at $230,000 after buying an additional 284 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robert R. Hill, Jr. bought 5,475 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average price of $40.34 per share, with a total value of $220,861.50. Following the completion of the purchase, the director now directly owns 29,540 shares of the company's stock, valued at approximately $1,191,643.60. This trade represents a 22.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R. Howard Coker purchased 20,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $46.10 per share, with a total value of $922,000.00. Following the transaction, the chief executive officer now owns 482,365 shares in the company, 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. Insiders acquired 50,721 shares of company stock worth $2,206,646 over the last three months. 0.74% of the stock is currently owned by corporate insiders.

Sonoco Products Stock Performance

Shares of NYSE:SON traded up $0.30 during trading on Monday, hitting $45.01. 197,381 shares of the stock traded hands, compared to its average volume of 768,883. The company has a fifty day moving average price of $45.44 and a two-hundred day moving average price of $48.13. Sonoco Products has a 52-week low of $39.46 and a 52-week high of $61.73. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 0.76 and a beta of 0.68. The company has a quick ratio of 1.91, a current ratio of 0.79 and a debt-to-equity ratio of 2.18.

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

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $0.53 dividend. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 4.71%. The ex-dividend date is Friday, May 9th. Sonoco Products's dividend payout ratio (DPR) is presently 137.66%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Sonoco Products in a report on Tuesday, April 22nd. They issued a "buy" rating and a $62.00 price objective on the stock. Truist Financial cut their price target on shares of Sonoco Products from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup decreased their price objective on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Raymond James dropped their price objective on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $56.43.

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.