International Assets Investment Management LLC Grows Stake in Sonoco Products (NYSE:SON)

International Assets Investment Management LLC raised its stake in Sonoco Products (NYSE:SON) by 5,486.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,274 shares of the industrial products company’s stock after acquiring an additional 9,108 shares during the period. International Assets Investment Management LLC’s holdings in Sonoco Products were worth $518,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Bruce G. Allen Investments LLC bought a new position in shares of Sonoco Products during the fourth quarter valued at $28,000. Authentikos Wealth Advisory LLC bought a new position in shares of Sonoco Products during the third quarter valued at $34,000. M&R Capital Management Inc. lifted its holdings in shares of 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 valued at $52,000 after purchasing an additional 692 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Sonoco Products by 40.8% during the third quarter. Global Retirement Partners LLC now owns 1,119 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 324 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of Sonoco Products during the fourth quarter valued at $65,000. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Stock Down 0.8 %

SON stock opened at $56.13 on Friday. Sonoco Products has a fifty-two week low of $49.98 and a fifty-two week high of $63.74. The business’s 50-day moving average is $56.92 and its two-hundred day moving average is $55.90. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.76. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 2.15 and a beta of 0.68.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, February 15th. The industrial products company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company posted $1.27 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, analysts forecast that Sonoco Products will post 5.21 earnings per share for the current year.

Sonoco Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.71%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. Sonoco Products’s dividend payout ratio (DPR) is 42.50%.

Insider Transactions at Sonoco Products

In other news, VP Adam Wood sold 537 shares of the firm’s stock in a transaction dated 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 $1,612,691.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.53, for a total transaction of $604,065.00. Following the completion of the sale, the insider now owns 13,456 shares in the company, valued at $774,123.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adam Wood sold 537 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total value of $30,630.48. Following the sale, 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. Insiders have sold 13,076 shares of company stock valued at $749,002 over the last quarter. 0.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SON has been the topic of a number of research analyst reports. TheStreet downgraded Sonoco Products from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. Citigroup lowered 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. Finally, Wells Fargo & Company lowered their target price on Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Sonoco Products presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

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.