Sonoco Products (NYSE:SON) Shares Bought by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. grew its holdings in Sonoco Products (NYSE:SON) by 8.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,093 shares of the industrial products company’s stock after buying an additional 11,245 shares during the quarter. Bahl & Gaynor Inc. owned about 0.14% of Sonoco Products worth $8,103,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Rise Advisors LLC acquired a new stake in Sonoco Products in the first quarter valued at $26,000. FinTrust Capital Advisors LLC lifted its stake in shares of Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 216 shares during the period. Burkett Financial Services LLC acquired a new stake in shares of Sonoco Products in the fourth quarter valued at about $30,000. TFO Wealth Partners LLC boosted its holdings in Sonoco Products by 12,183.3% during the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company’s stock worth $41,000 after buying an additional 731 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Sonoco Products during the first quarter worth about $50,000. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SON. Wells Fargo & Company lowered their price target on Sonoco Products from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Raymond James assumed coverage on Sonoco Products in a report on Friday. They issued an “outperform” rating and a $62.00 target price on the stock. StockNews.com downgraded Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Citigroup cut their price objective on Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Sonoco Products Trading Up 0.3 %

Shares of SON stock traded up $0.17 during trading hours on Tuesday, hitting $51.97. 426,879 shares of the company were exchanged, compared to its average volume of 565,375. The firm has a fifty day moving average of $55.76 and a 200 day moving average of $56.63. The company has a quick ratio of 0.83, a current ratio of 1.31 and a debt-to-equity ratio of 1.08. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73. The firm has a market cap of $5.11 billion, a PE ratio of 13.01, a PEG ratio of 2.28 and a beta of 0.69.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 EPS. Analysts expect that Sonoco Products will post 5.08 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.00%. Sonoco Products’s payout ratio is 52.53%.

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.