Curi RMB Capital LLC Purchases 13,175 Shares of Sonoco Products (NYSE:SON)

Curi RMB Capital LLC lifted its stake in shares of Sonoco Products (NYSE:SON - Free Report) by 101.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,154 shares of the industrial products company's stock after acquiring an additional 13,175 shares during the period. Curi RMB Capital LLC's holdings in Sonoco Products were worth $1,278,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Sonoco Products by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 11,128,725 shares of the industrial products company's stock valued at $543,638,000 after purchasing an additional 120,843 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sonoco Products by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,471 shares of the industrial products company's stock valued at $153,411,000 after purchasing an additional 136,965 shares in the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of Sonoco Products during the 4th quarter valued at $78,203,000. Invesco Ltd. lifted its stake in Sonoco Products by 13.0% in the fourth quarter. Invesco Ltd. now owns 1,358,002 shares of the industrial products company's stock worth $66,338,000 after purchasing an additional 155,893 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Sonoco Products by 3.3% during the fourth quarter. Sei Investments Co. now owns 1,345,054 shares of the industrial products company's stock valued at $65,706,000 after buying an additional 43,238 shares during the last quarter. Institutional investors own 77.69% of the company's stock.

Insider Transactions at Sonoco Products

In related news, Director John R. Haley bought 3,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $46.76 per share, with a total value of $140,280.00. Following the completion of the acquisition, the director now owns 18,558 shares of the company's stock, valued at $867,772.08. The trade was a 19.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R. Howard Coker bought 20,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the completion of the purchase, the chief executive officer now owns 482,365 shares of the company's stock, valued at approximately $22,237,026.50. The trade was a 4.33 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.74% of the company's stock.

Sonoco Products Stock Down 0.4 %

SON traded down $0.17 on Friday, hitting $46.23. The company had a trading volume of 412,829 shares, compared to its average volume of 750,444. Sonoco Products has a 52-week low of $39.46 and a 52-week high of $61.73. The stock has a fifty day simple moving average of $45.66 and a 200-day simple moving average of $48.55. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The firm has a market capitalization of $4.56 billion, a P/E ratio of 28.02, a P/E/G ratio of 0.76 and a beta of 0.64.

Sonoco Products (NYSE:SON - Get Free Report) last released its quarterly 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). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. As a group, equities analysts expect that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 4.59%. This is a positive change from Sonoco Products's previous quarterly dividend of $0.52. The ex-dividend date is Friday, May 9th. Sonoco Products's dividend payout ratio (DPR) is presently 128.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SON. Jefferies Financial Group assumed coverage on Sonoco Products in a research note on Tuesday. They issued a "buy" rating and a $62.00 price target on the stock. Raymond James lowered their price target on shares of Sonoco Products from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday. Citigroup cut their price target on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Bank of America upped their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, StockNews.com cut Sonoco Products from a "hold" rating to a "sell" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $56.43.

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.