WBI Investments LLC Takes Position in Sonoco Products (NYSE:SON)

WBI Investments LLC purchased a new stake in Sonoco Products (NYSE:SON) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 9,779 shares of the industrial products company’s stock, valued at approximately $546,000.

Other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in shares of Sonoco Products in the 4th quarter valued at $28,000. Authentikos Wealth Advisory LLC bought a new position in shares of Sonoco Products in the 3rd quarter valued at $34,000. Quadrant Capital Group LLC lifted its stake in shares of Sonoco Products by 88.6% in the 4th quarter. Quadrant Capital Group LLC now owns 913 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 429 shares during the last quarter. M&R Capital Management Inc. lifted its stake in shares of Sonoco Products by 298.3% in the 4th quarter. M&R Capital Management Inc. now owns 924 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 692 shares during the last quarter. Finally, Highlander Capital Management LLC bought a new position in Sonoco Products during the 4th quarter worth $56,000. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Trading Down 0.7 %

Shares of SON stock traded down $0.43 during mid-day trading on Thursday, hitting $60.82. The company’s stock had a trading volume of 121,987 shares, compared to its average volume of 455,057. The company’s fifty day simple moving average is $57.62 and its 200-day simple moving average is $56.74. Sonoco Products has a 52 week low of $49.98 and a 52 week high of $63.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.83 and a current ratio of 1.31. The company has a market cap of $5.98 billion, a PE ratio of 15.47, a P/E/G ratio of 2.34 and a beta of 0.68.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.07. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company posted $1.40 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that Sonoco Products will post 5.19 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 3.42%. Sonoco Products’s dividend payout ratio (DPR) is 52.53%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SON. Citigroup lowered their target price on Sonoco Products from $66.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. TheStreet lowered Sonoco Products from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company raised their target price on Sonoco Products from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.33.

Insider Transactions at Sonoco Products

In other news, VP Adam Wood sold 537 shares of Sonoco Products stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total value of $30,630.48. Following the completion of the transaction, the vice president now directly owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Russell K. Grissett sold 2,039 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $56.06, for a total value of $114,306.34. Following the completion of the sale, the insider now directly owns 11,988 shares in the company, valued at approximately $672,047.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Adam Wood sold 537 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total value of $30,630.48. Following the completion of the sale, the vice president now owns 28,273 shares of the company’s stock, valued at $1,612,691.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,076 shares of company stock valued at $749,002. Corporate insiders own 0.51% of the company’s stock.

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.