LSV Asset Management Cuts Stock Position in Sonoco Products (NYSE:SON)

LSV Asset Management decreased its stake in Sonoco Products (NYSE:SON - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,000 shares of the industrial products company's stock after selling 25,900 shares during the period. LSV Asset Management owned 0.25% of Sonoco Products worth $13,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SON. Bruce G. Allen Investments LLC acquired a new stake in Sonoco Products during the fourth quarter worth approximately $28,000. Authentikos Wealth Advisory LLC acquired a new stake in Sonoco Products during the third quarter worth approximately $34,000. M&R Capital Management Inc. grew its stake in Sonoco Products by 298.3% during the fourth quarter. M&R Capital Management Inc. now owns 924 shares of the industrial products company's stock worth $52,000 after purchasing an additional 692 shares during the period. Highlander Capital Management LLC acquired a new stake in Sonoco Products during the fourth quarter worth approximately $56,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in Sonoco Products during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 77.69% of the company's stock.

Insider Buying and Selling

In other Sonoco Products news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the business's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.53, for a total value of $604,065.00. Following the transaction, the insider now directly owns 13,456 shares in the company, valued at $774,123.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Sonoco Products news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.53, for a total value of $604,065.00. Following the sale, the insider now directly owns 13,456 shares in the company, valued at $774,123.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Adam Wood sold 537 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total value of $30,630.48. Following the transaction, the vice president now owns 28,273 shares of the company's stock, valued at approximately $1,612,691.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,076 shares of company stock worth $749,002. Insiders own 0.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SON shares. TheStreet cut Sonoco Products from a "b-" rating to a "c+" rating in a research note on Wednesday, February 14th. Wells Fargo & Company increased their price target on Sonoco Products from $56.00 to $57.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Citigroup cut their price target on Sonoco Products from $66.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Sonoco Products has an average rating of "Moderate Buy" and an average price target of $63.33.

Sonoco Products Stock Up 1.8 %

Shares of SON stock traded up $1.01 during trading hours on Tuesday, reaching $58.12. The company had a trading volume of 774,016 shares, compared to its average volume of 441,055. Sonoco Products has a 12 month low of $49.98 and a 12 month high of $63.74. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.31 and a quick ratio of 0.83. The business has a fifty day simple moving average of $56.91 and a 200-day simple moving average of $56.09. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.19 and a beta of 0.68.

Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.07. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company earned $1.40 earnings per share. The company's revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts expect that Sonoco Products will post 5.19 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $0.52 dividend. This is an increase from Sonoco Products's previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Thursday, May 9th. Sonoco Products's payout ratio is 51.52%.

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.