Pinion Investment Advisors LLC Cuts Holdings in Sonoco Products (NYSE:SON)

Pinion Investment Advisors LLC trimmed its position in Sonoco Products (NYSE:SON) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,882 shares of the industrial products company’s stock after selling 1,205 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Sonoco Products were worth $532,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Kennebec Savings Bank acquired a new position in Sonoco Products in the 3rd quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in Sonoco Products in the third quarter worth approximately $33,000. Principal Securities Inc. raised its stake in shares of Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 351 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Sonoco Products during the 3rd quarter worth approximately $71,000. Finally, Albion Financial Group UT bought a new position in Sonoco Products in the fourth quarter worth approximately $84,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Down 1.1 %

Shares of SON stock opened at $47.29 on Tuesday. Sonoco Products has a twelve month low of $44.35 and a twelve month high of $61.73. The company’s 50-day moving average price is $47.77 and its 200-day moving average price is $50.94. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.76 and a beta of 0.67. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. As a group, equities analysts predict that Sonoco Products will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.40%. Sonoco Products’s dividend payout ratio is currently 126.06%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SON shares. Robert W. Baird reduced their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Bank of America lifted their price target on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. StockNews.com lowered Sonoco Products from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Truist Financial reduced their target price on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Citigroup decreased their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.50.

Insider Buying and Selling at Sonoco Products

In other news, Director John R. Haley bought 3,000 shares of Sonoco Products stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $46.76 per share, with a total value of $140,280.00. Following the completion of the transaction, the director now directly owns 18,558 shares in the company, valued at $867,772.08. This trade represents a 19.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the sale, the director now owns 16,065 shares in the company, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

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.