Natixis Advisors LLC Purchases 34,382 Shares of Sonoco Products (NYSE:SON)

Natixis Advisors LLC boosted its holdings in shares of Sonoco Products (NYSE:SON) by 25.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,881 shares of the industrial products company’s stock after acquiring an additional 34,382 shares during the period. Natixis Advisors LLC’s holdings in Sonoco Products were worth $9,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SON. Mercer Global Advisors Inc. ADV increased its position in shares of Sonoco Products by 2.7% during 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 in the last quarter. Creative Financial Designs Inc. ADV grew 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 valued at $130,000 after buying an additional 289 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sonoco Products by 1.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock valued at $1,002,000 after acquiring an additional 298 shares during the period. TD Asset Management Inc increased its stake in shares of Sonoco Products by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 300 shares in the last quarter. Finally, Curi RMB Capital LLC grew its stake 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 period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SON. Citigroup increased 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. Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $52.00 in a report on Wednesday, August 21st. Finally, Robert W. Baird dropped their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One equities 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Sonoco Products Stock Up 0.4 %

SON opened at $50.15 on Friday. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The firm has a 50-day simple moving average of $52.80 and a two-hundred day simple moving average of $53.99. The company has a market capitalization of $4.93 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 2.02 and a beta of 0.69.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data 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 business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. Analysts forecast that Sonoco Products will post 5.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

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 dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.15%. Sonoco Products’s dividend payout ratio (DPR) 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.