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

Dynamic Technology Lab Private Ltd decreased its stake in Sonoco Products (NYSE:SON - Free Report) by 59.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV grew its position in Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company's stock valued at $445,000 after acquiring an additional 237 shares during the period. Creative Financial Designs Inc. ADV grew its position in Sonoco Products by 13.9% in the third quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company's stock valued at $130,000 after acquiring an additional 289 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sonoco Products by 1.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company's stock valued at $1,002,000 after acquiring an additional 298 shares during the period. TD Asset Management Inc grew its position in Sonoco Products by 2.0% in the second quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company's stock valued at $771,000 after acquiring an additional 300 shares during the period. Finally, Curi RMB Capital LLC grew its holdings in shares of Sonoco Products by 2.4% during the third quarter. Curi RMB Capital LLC now owns 12,979 shares of the industrial products company's stock worth $709,000 after purchasing an additional 304 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.

Sonoco Products Trading Down 0.5 %

Shares of SON opened at $51.65 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The firm has a market capitalization of $5.08 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.14 and a beta of 0.69. The stock's fifty day simple moving average is $52.65 and its 200-day simple moving average is $53.84.

Sonoco Products (NYSE:SON - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Sonoco Products will post 5.1 earnings per share for the current year.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.03%. The ex-dividend date is Friday, November 8th. Sonoco Products's payout ratio is 71.48%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup increased their target price on Sonoco Products from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Truist Financial assumed coverage on Sonoco Products in a report on Tuesday. They set a "buy" rating and a $63.00 target price on the stock. Wells Fargo & Company cut Sonoco Products from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Finally, Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $59.00.

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.