Dynamic Technology Lab Private Ltd Has $1.16 Million Stock Holdings in Sonoco Products (NYSE:SON)

Dynamic Technology Lab Private Ltd lowered its position in Sonoco Products (NYSE:SON) by 59.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,139 shares of the industrial products company’s stock after selling 31,202 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Sonoco Products were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new position in Sonoco Products in the 3rd quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new stake in Sonoco Products in the third quarter valued at $33,000. Abich Financial Wealth Management LLC bought a new position in Sonoco Products during the 2nd quarter worth $50,000. Gradient Investments LLC acquired a new position in Sonoco Products during the 2nd quarter worth about $58,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Sonoco Products by 821.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock valued at $95,000 after buying an additional 1,675 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SON shares. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Truist Financial started coverage on shares of Sonoco Products in a research note on Tuesday. They issued a “buy” rating and a $63.00 price objective on the stock. Robert W. Baird lowered their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Citigroup upped their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Sonoco Products Trading Down 0.5 %

NYSE:SON opened at $51.65 on Wednesday. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.09 and a beta of 0.69. The firm has a fifty day simple moving average of $52.65 and a two-hundred day simple moving average of $53.84.

Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $1.46 EPS. Analysts expect that Sonoco Products will post 5.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.03%. Sonoco Products’s dividend payout ratio 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.