International Assets Investment Management LLC Acquires 13,032 Shares of Sonoco Products (NYSE:SON)

International Assets Investment Management LLC grew its holdings in shares of Sonoco Products (NYSE:SON - Free Report) by 5,363.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,275 shares of the industrial products company's stock after acquiring an additional 13,032 shares during the quarter. International Assets Investment Management LLC's holdings in Sonoco Products were worth $725,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Community Trust & Investment Co. bought a new stake in shares of Sonoco Products during the third quarter worth about $917,000. Westhampton Capital LLC grew its holdings in shares of Sonoco Products by 35.8% during the third quarter. Westhampton Capital LLC now owns 36,532 shares of the industrial products company's stock worth $1,996,000 after purchasing an additional 9,630 shares during the last quarter. Jade Capital Advisors LLC bought a new stake in shares of Sonoco Products during the third quarter worth about $273,000. Raymond James & Associates grew its holdings in shares of Sonoco Products by 18.1% during the third quarter. Raymond James & Associates now owns 121,583 shares of the industrial products company's stock worth $6,642,000 after purchasing an additional 18,648 shares during the last quarter. Finally, Bfsg LLC bought a new stake in shares of Sonoco Products during the third quarter worth about $205,000. Institutional investors and hedge funds own 77.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SON. Raymond James began coverage on Sonoco Products in a report on Friday, July 19th. They set an "outperform" rating and a $62.00 price target on the stock. Citigroup upped their target price on Sonoco Products from $62.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Wells Fargo & Company cut Sonoco Products from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $54.00 to $52.00 in a report on Wednesday, August 21st. Finally, Robert W. Baird reduced 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $58.00.

Sonoco Products Trading Up 2.2 %

SON stock traded up $1.10 during trading on Wednesday, hitting $51.36. The company had a trading volume of 610,821 shares, compared to its average volume of 616,071. The business has a 50-day moving average of $53.90 and a 200-day moving average of $54.46. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The stock has a market cap of $5.05 billion, a PE ratio of 17.67, a PEG ratio of 2.09 and a beta of 0.69. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. Research analysts predict that Sonoco Products will post 5.08 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products's payout ratio is 71.48%.

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.