Natixis Advisors LLC Acquires 91,539 Shares of Sonoco Products Company $SON

Natixis Advisors LLC increased its holdings in shares of Sonoco Products Company (NYSE:SON) by 49.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,274 shares of the industrial products company’s stock after buying an additional 91,539 shares during the period. Natixis Advisors LLC’s holdings in Sonoco Products were worth $11,862,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC acquired a new position in Sonoco Products in the 3rd quarter valued at approximately $29,000. TD Waterhouse Canada Inc. acquired a new position in shares of Sonoco Products during the second quarter worth $30,000. True Wealth Design LLC lifted its holdings in shares of Sonoco Products by 172.5% during the third quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 471 shares during the period. Ameriflex Group Inc. grew its stake in shares of Sonoco Products by 1,263.6% in the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 834 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in Sonoco Products by 258.7% in the third quarter. Clearstead Advisors LLC now owns 1,338 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 965 shares during the period. 77.69% of the stock is owned by institutional investors.

Sonoco Products Stock Performance

Shares of SON opened at $52.78 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The firm’s fifty day simple moving average is $51.11 and its two-hundred day simple moving average is $45.69. Sonoco Products Company has a 12 month low of $38.65 and a 12 month high of $58.44. The stock has a market capitalization of $5.21 billion, a P/E ratio of 5.24, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Tuesday, February 17th. The industrial products company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. Sonoco Products had a return on equity of 18.52% and a net margin of 13.34%.The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. As a group, analysts predict that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Wednesday, February 25th. Sonoco Products’s payout ratio is presently 21.05%.

Insider Transactions at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $56.39, for a total value of $89,152.59. Following the transaction, the insider directly owned 9,377 shares of the company’s stock, valued at approximately $528,769.03. The trade was a 14.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

SON has been the subject of several analyst reports. Bank of America raised Sonoco Products from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $60.00 in a research report on Monday, January 5th. Truist Financial reissued a “buy” rating and issued a $69.00 price target (up from $54.00) on shares of Sonoco Products in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. UBS Group lifted their price objective on Sonoco Products from $48.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen upgraded Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.63.

Sonoco Products Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.