Nvwm LLC Has $2.09 Million Holdings in Sonoco Products (NYSE:SON)

Nvwm LLC trimmed its position in Sonoco Products (NYSE:SON) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,334 shares of the industrial products company’s stock after selling 269 shares during the quarter. Nvwm LLC’s holdings in Sonoco Products were worth $2,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SON. Janney Montgomery Scott LLC raised its stake in shares of Sonoco Products by 2.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,333 shares of the industrial products company’s stock valued at $1,002,000 after buying an additional 507 shares in the last quarter. Private Management Group Inc. bought a new stake in Sonoco Products in the third quarter valued at about $24,994,000. Creative Financial Designs Inc. ADV raised its position in Sonoco Products by 13.9% in the third quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock worth $130,000 after purchasing an additional 289 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in Sonoco Products in the third quarter worth about $234,000. Finally, State of Alaska Department of Revenue lifted its stake in Sonoco Products by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,351 shares of the industrial products company’s stock worth $620,000 after purchasing an additional 770 shares during the period. 77.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SON shares. Citigroup upped their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, Raymond James assumed coverage on Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective for the company. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Price Performance

Shares of NYSE:SON traded down $1.38 during trading on Friday, reaching $51.14. The stock had a trading volume of 1,382,678 shares, compared to its average volume of 588,379. The stock has a market capitalization of $5.02 billion, a PE ratio of 17.57, a P/E/G ratio of 2.20 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73. The business’s 50-day moving average price is $54.03 and its 200 day moving average price is $54.57.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a return on equity of 20.03% and a net margin of 4.38%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. As a group, equities analysts predict that Sonoco Products will post 5 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.07%. The ex-dividend date is Friday, November 8th. Sonoco Products’s payout ratio is presently 71.48%.

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.