Sonoco Products (NYSE:SON) Director Buys $140,280.00 in Stock

Sonoco Products (NYSE:SON - Get Free Report) Director John R. Haley purchased 3,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $46.76 per share, for a total transaction of $140,280.00. Following the purchase, the director now directly owns 18,558 shares of the company's stock, valued at $867,772.08. This trade represents a 19.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sonoco Products Stock Down 1.1 %

Shares of SON stock traded down $0.53 on Monday, hitting $47.29. The company's stock had a trading volume of 834,695 shares, compared to its average volume of 827,602. 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 stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 0.76 and a beta of 0.67. Sonoco Products has a fifty-two week low of $44.35 and a fifty-two week high of $61.73. The firm's fifty day moving average price is $47.81 and its 200-day moving average price is $50.96.

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 (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.01). Sonoco Products had a return on equity of 20.81% and a net margin of 2.60%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.67 billion. Research analysts anticipate that Sonoco Products will post 6.1 EPS for the current year.

Remove Ads

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Wednesday, February 26th. Sonoco Products's dividend payout ratio (DPR) is 126.06%.

Analyst Ratings Changes

SON has been the topic of several research analyst reports. Citigroup lowered their price objective 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. Bank of America upped their price target on Sonoco Products from $66.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 6th. StockNews.com lowered Sonoco Products from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Wells Fargo & Company dropped their target price on Sonoco Products from $50.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday, February 24th. Finally, Robert W. Baird lowered their price objective on shares of Sonoco Products from $58.00 to $55.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Sonoco Products currently has a consensus rating of "Hold" and an average target price of $58.50.

Hedge Funds Weigh In On Sonoco Products

A number of institutional investors have recently made changes to their positions in the business. Creative Planning increased its position in Sonoco Products by 4.3% in the 3rd quarter. Creative Planning now owns 11,435 shares of the industrial products company's stock worth $625,000 after buying an additional 473 shares during the period. Raymond James & Associates increased its position in 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 acquiring an additional 18,648 shares during the period. International Assets Investment Management LLC raised its stake in Sonoco Products by 5,363.0% during the 3rd quarter. International Assets Investment Management LLC now owns 13,275 shares of the industrial products company's stock valued at $725,000 after purchasing an additional 13,032 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sonoco Products by 3.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 55,948 shares of the industrial products company's stock valued at $3,056,000 after purchasing an additional 1,962 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Sonoco Products by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,351 shares of the industrial products company's stock worth $620,000 after purchasing an additional 770 shares during the last quarter. 77.69% of the stock is currently owned by institutional investors.

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.