Steel Grove Capital Advisors LLC Decreases Stake in Sonoco Products Company $SON

Steel Grove Capital Advisors LLC reduced its position in Sonoco Products Company (NYSE:SON) by 85.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,423 shares of the industrial products company’s stock after selling 32,848 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Sonoco Products were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Powell Investment Advisors LLC boosted its position in Sonoco Products by 1.0% in the 4th quarter. Powell Investment Advisors LLC now owns 20,718 shares of the industrial products company’s stock valued at $904,000 after buying an additional 203 shares during the last quarter. IFP Advisors Inc boosted its position in Sonoco Products by 8.6% in the 4th quarter. IFP Advisors Inc now owns 2,996 shares of the industrial products company’s stock valued at $131,000 after buying an additional 237 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock valued at $26,000 after buying an additional 258 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Sonoco Products by 5.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,006 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 304 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Sonoco Products by 2.8% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,742 shares of the industrial products company’s stock valued at $549,000 after purchasing an additional 345 shares in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ernest D. Haynes III sold 1,581 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $56.39, for a total transaction of $89,152.59. Following the sale, the insider owned 9,377 shares in the company, 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 this hyperlink. Also, insider James A. Harrell III acquired 6,753 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the purchase, the insider owned 10,070 shares of the company’s stock, valued at $507,225.90. This trade represents a 203.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SON. Wall Street Zen lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Sonoco Products in a research note on Wednesday, April 1st. They issued a “buy” rating and a $63.00 target price on the stock. Argus upgraded shares of Sonoco Products to a “hold” rating in a research note on Monday, April 20th. Weiss Ratings lowered shares of Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, Truist Financial restated a “buy” rating and issued a $65.00 target price (down from $68.00) on shares of Sonoco Products in a research note on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.11.

Sonoco Products Price Performance

SON opened at $49.87 on Thursday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 4.89, a price-to-earnings-growth ratio of 1.04 and a beta of 0.40. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $58.44. The company’s 50-day moving average price is $51.99 and its 200 day moving average price is $48.86. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.97.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.37). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.Sonoco Products’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 EPS. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. As a group, sell-side analysts expect that Sonoco Products Company will post 5.81 earnings per share for the current year.

Sonoco Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 4.3%. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, May 8th. Sonoco Products’s dividend payout ratio (DPR) is currently 21.18%.

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.