36,104 Shares in Sonoco Products Company $SON Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sonoco Products Company (NYSE:SON) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 36,104 shares of the industrial products company’s stock, valued at approximately $1,556,000.

Several other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC lifted its stake in Sonoco Products by 49.8% in the third quarter. Natixis Advisors LLC now owns 275,274 shares of the industrial products company’s stock worth $11,862,000 after purchasing an additional 91,539 shares during the last quarter. Ameriflex Group Inc. grew its stake in shares of Sonoco Products by 1,263.6% during the third quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock valued at $39,000 after buying an additional 834 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Sonoco Products by 12.8% in the third quarter. First Trust Advisors LP now owns 1,384,361 shares of the industrial products company’s stock worth $59,652,000 after buying an additional 156,793 shares during the period. Barclays PLC lifted its stake in shares of Sonoco Products by 47.4% during the 3rd quarter. Barclays PLC now owns 196,728 shares of the industrial products company’s stock worth $8,477,000 after acquiring an additional 63,306 shares during the last quarter. Finally, Islay Capital Management LLC bought a new stake in shares of Sonoco Products during the 3rd quarter worth approximately $502,000. Institutional investors own 77.69% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ernest D. Haynes III sold 1,581 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $56.39, for a total value of $89,152.59. Following the completion of the sale, the insider directly owned 9,377 shares of the company’s stock, valued at $528,769.03. This represents a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is currently owned by company insiders.

Sonoco Products Stock Down 0.8%

Shares of NYSE:SON opened at $53.29 on Friday. The business’s 50 day moving average is $50.36 and its 200 day moving average is $45.50. The stock has a market cap of $5.26 billion, a P/E ratio of 5.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. Sonoco Products Company has a 52-week low of $38.65 and a 52-week 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.

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

Sonoco Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, February 25th. Sonoco Products’s payout ratio is presently 21.05%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Bank of America raised Sonoco Products from a “neutral” rating to a “buy” rating and upped their price objective for the company from $56.00 to $60.00 in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a research report on Wednesday, January 21st. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a research note on Friday. Wall Street Zen upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Robert W. Baird lifted their price objective on shares of Sonoco Products from $48.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.63.

Sonoco Products Company 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.