Sonoco Products (NYSE:SON) Stock Position Lowered by Rowlandmiller & PARTNERS.ADV

Rowlandmiller & PARTNERS.ADV lessened its position in Sonoco Products (NYSE:SON) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,598 shares of the industrial products company’s stock after selling 411 shares during the period. Rowlandmiller & PARTNERS.ADV owned approximately 0.06% of Sonoco Products worth $3,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kennebec Savings Bank acquired a new stake in shares of Sonoco Products during the third quarter worth $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Sonoco Products during the third quarter worth $33,000. Principal Securities Inc. raised its position in shares of Sonoco Products by 35.0% during the fourth quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 351 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sonoco Products during the third quarter worth $71,000. Finally, Albion Financial Group UT acquired a new stake in shares of Sonoco Products during the fourth quarter worth $84,000. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Up 1.4 %

NYSE:SON opened at $46.88 on Monday. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 0.76 and a beta of 0.67. Sonoco Products has a 1-year low of $44.35 and a 1-year high of $61.73. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The business’s fifty day moving average price is $48.12 and its 200 day moving average price is $51.04.

Sonoco Products (NYSE:SON) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.67 billion. On average, sell-side analysts forecast that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.44%. The ex-dividend date is Wednesday, February 26th. Sonoco Products’s payout ratio is currently 126.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SON. StockNews.com lowered Sonoco Products from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company cut their target price on Sonoco Products from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Bank of America boosted their target price on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Truist Financial lowered their price target on Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. Finally, Robert W. Baird dropped their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.83.

Insiders Place Their Bets

In other Sonoco Products news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the transaction, the director now directly owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.51% of the company’s stock.

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.