Signaturefd LLC Lowers Stock Holdings in Sonoco Products (NYSE:SON)

Signaturefd LLC lessened its position in shares of Sonoco Products (NYSE:SON) by 5.5% in the third quarter, Holdings Channel.com reports. The fund owned 5,316 shares of the industrial products company’s stock after selling 311 shares during the quarter. Signaturefd LLC’s holdings in Sonoco Products were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. 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 worth $28,000 after acquiring an additional 216 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sonoco Products during the first quarter worth $50,000. Abich Financial Wealth Management LLC bought a new position in Sonoco Products during the second quarter valued at about $50,000. Gradient Investments LLC acquired a new stake in Sonoco Products during the second quarter worth about $58,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Sonoco Products by 821.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock worth $95,000 after buying an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Down 0.0 %

Shares of SON stock opened at $53.08 on Friday. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.20 and a beta of 0.68. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The firm’s 50-day moving average is $53.98 and its 200-day moving average is $54.72.

Sonoco Products (NYSE:SON) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $1.38 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis. Sell-side analysts predict that Sonoco Products will post 5 EPS for the current year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio is presently 52.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SON shares. StockNews.com downgraded Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Raymond James began coverage on shares of Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, Citigroup boosted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

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.