Sonoco Products (NYSE:SON) Stock Holdings Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of Sonoco Products (NYSE:SON) by 5.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,105 shares of the industrial products company’s stock after selling 3,153 shares during the period. Mutual of America Capital Management LLC’s holdings in Sonoco Products were worth $2,901,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its stake in Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 237 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Sonoco Products by 13.9% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock worth $130,000 after buying an additional 289 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sonoco Products by 1.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock worth $1,002,000 after buying an additional 298 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Sonoco Products by 2.0% during the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 300 shares in the last quarter. Finally, Curi RMB Capital LLC increased its holdings in shares of Sonoco Products by 2.4% during the 3rd quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company’s stock valued at $709,000 after acquiring an additional 304 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Trading Up 1.5 %

Shares of Sonoco Products stock opened at $50.92 on Friday. The company’s fifty day moving average price is $52.72 and its two-hundred day moving average price is $53.92. The firm has a market capitalization of $5.00 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 2.06 and a beta of 0.69. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 earnings per share. On average, analysts expect that Sonoco Products will post 5.1 EPS for the current year.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s dividend payout ratio is 71.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SON. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Citigroup boosted their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird lowered their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.00.

Sonoco Products Company 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.