Curi RMB Capital LLC Grows Position in Sonoco Products (NYSE:SON)

Curi RMB Capital LLC increased its position in shares of Sonoco Products (NYSE:SON) by 2.4% in the third quarter, Holdings Channel.com reports. The firm owned 12,979 shares of the industrial products company’s stock after purchasing an additional 304 shares during the quarter. Curi RMB Capital LLC’s holdings in Sonoco Products were worth $709,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Earnest Partners LLC boosted its stake in shares of Sonoco Products by 2.5% during the 2nd quarter. Earnest Partners LLC now owns 2,645,744 shares of the industrial products company’s stock worth $134,192,000 after purchasing an additional 64,915 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Sonoco Products by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock valued at $133,465,000 after buying an additional 261,062 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Sonoco Products by 2.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,195,155 shares of the industrial products company’s stock valued at $111,338,000 after buying an additional 50,577 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Sonoco Products by 13,464.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock valued at $100,441,000 after buying an additional 1,965,698 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Sonoco Products by 9.3% during the 2nd quarter. Sei Investments Co. now owns 1,490,580 shares of the industrial products company’s stock valued at $75,602,000 after buying an additional 126,643 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Trading Down 0.5 %

NYSE:SON opened at $50.07 on Friday. The firm has a 50-day simple moving average of $53.16 and a 200-day simple moving average of $54.17. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The firm has a market cap of $4.92 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.09 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 analysts’ consensus estimates of $1.45 by $0.04. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate that Sonoco Products will post 5.1 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Friday, November 8th. Sonoco Products’s payout ratio is currently 71.48%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SON. Raymond James began coverage on shares of Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective for the company. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $54.00 to $52.00 in a report on Wednesday, August 21st. Robert W. Baird reduced their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.00.

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.