Locust Wood Capital Advisers LLC Purchases Shares of 23,200 Sonoco Products (NYSE:SON)

Locust Wood Capital Advisers LLC purchased a new stake in shares of Sonoco Products (NYSE:SON - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,200 shares of the industrial products company's stock, valued at approximately $1,133,000.

A number of other institutional investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Sonoco Products in the 3rd quarter worth about $71,000. Principal Securities Inc. raised its position in Sonoco Products by 35.0% in the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company's stock worth $66,000 after purchasing an additional 351 shares during the period. SRS Capital Advisors Inc. lifted its stake in Sonoco Products by 311.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the industrial products company's stock worth $84,000 after purchasing an additional 1,297 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Sonoco Products during the fourth quarter valued at approximately $84,000. Finally, GAMMA Investing LLC grew its stake in shares of Sonoco Products by 33.8% during the fourth quarter. GAMMA Investing LLC now owns 3,158 shares of the industrial products company's stock valued at $154,000 after buying an additional 798 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Sonoco Products news, CEO R. Howard Coker bought 20,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $46.10 per share, for a total transaction of $922,000.00. Following the purchase, the chief executive officer now directly owns 482,365 shares in the company, valued at $22,237,026.50. This represents a 4.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Haley purchased 3,000 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $46.76 per share, with a total value of $140,280.00. Following the acquisition, the director now owns 18,558 shares of the company's stock, valued at approximately $867,772.08. This represents a 19.28 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.74% of the company's stock.

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Sonoco Products Stock Down 0.1 %

Shares of NYSE:SON traded down $0.04 on Tuesday, reaching $44.09. The company had a trading volume of 163,121 shares, compared to its average volume of 740,163. The firm has a market capitalization of $4.35 billion, a PE ratio of 26.72, a PEG ratio of 0.76 and a beta of 0.64. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. Sonoco Products has a 52-week low of $39.46 and a 52-week high of $61.73. The firm's 50 day simple moving average is $46.20 and its 200-day simple moving average is $49.05.

Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.01). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. As a group, analysts expect that Sonoco Products will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th were paid a $0.52 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 annualized dividend and a yield of 4.72%. Sonoco Products's dividend payout ratio (DPR) is 126.06%.

Analyst Ratings Changes

SON has been the subject of a number of research analyst reports. Bank of America raised their price target on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Truist Financial decreased their target price on Sonoco Products from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, February 21st. StockNews.com upgraded shares of Sonoco Products from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Citigroup reduced their target price on shares of Sonoco Products from $59.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company lowered their price target on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.50.

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.