Cascade Investment Advisors Inc. Has $505,000 Position in Sonoco Products Company $SON

Cascade Investment Advisors Inc. lessened its holdings in shares of Sonoco Products Company (NYSE:SON) by 48.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,562 shares of the industrial products company’s stock after selling 10,665 shares during the period. Cascade Investment Advisors Inc.’s holdings in Sonoco Products were worth $505,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Cornerstone Planning Group LLC acquired a new stake in shares of Sonoco Products in the third quarter worth $29,000. True Wealth Design LLC raised its stake in Sonoco Products by 172.5% during the 3rd quarter. True Wealth Design LLC now owns 744 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 471 shares during the last quarter. Ameriflex Group Inc. raised its stake in Sonoco Products by 1,263.6% during the 3rd quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 834 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Sonoco Products by 1,826.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 950 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Sonoco Products in the 3rd quarter worth $56,000. 77.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SON shares. Wells Fargo & Company dropped their price objective on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, March 20th. Zacks Research raised Sonoco Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. UBS Group upped their price target on Sonoco Products from $48.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Finally, Citigroup lifted their price objective on Sonoco Products from $52.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.13.

Insider Buying and Selling

In related news, insider Ernest D. Haynes III sold 1,581 shares of the business’s stock in a transaction 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 sale, the insider owned 9,377 shares of the company’s stock, valued at $528,769.03. The trade was a 14.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Sonoco Products Stock Performance

NYSE SON opened at $53.31 on Friday. Sonoco Products Company has a twelve month low of $38.65 and a twelve month high of $58.44. The company has a quick ratio of 0.60, a current ratio of 1.05 and a debt-to-equity ratio of 1.04. The stock has a market cap of $5.27 billion, a P/E ratio of 5.29, a PEG ratio of 1.07 and a beta of 0.51. The company’s 50-day simple moving average is $52.34 and its 200 day simple moving average is $46.16.

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

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, February 25th. Sonoco Products’s dividend payout ratio (DPR) is 21.05%.

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.