WINTON GROUP Ltd Acquires Shares of 18,181 Sonoco Products Company $SON

WINTON GROUP Ltd bought a new position in Sonoco Products Company (NYSE:SON) during the third quarter, Holdings Channel.com reports. The fund bought 18,181 shares of the industrial products company’s stock, valued at approximately $783,000.

Other institutional investors have also modified their holdings of the company. TD Waterhouse Canada Inc. purchased a new stake in shares of Sonoco Products in the second quarter valued at approximately $30,000. Cornerstone Planning Group LLC bought a new position in Sonoco Products in the third quarter worth approximately $29,000. True Wealth Design LLC increased its holdings 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 worth $32,000 after purchasing an additional 471 shares during the period. Ameriflex Group Inc. raised its position 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 in the last quarter. Finally, Clearstead Advisors LLC raised its position in Sonoco Products by 258.7% during the 3rd 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 in the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sonoco Products

In other Sonoco Products news, insider Ernest D. Haynes III sold 1,581 shares of the stock in a transaction dated Friday, February 27th. The stock was 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 in the company, valued at approximately $528,769.03. This trade represents a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.74% of the stock is owned by corporate insiders.

Sonoco Products Stock Up 0.4%

Shares of Sonoco Products stock traded up $0.22 on Friday, reaching $52.96. The stock had a trading volume of 83,141 shares, compared to its average volume of 1,012,384. 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 capitalization of $5.22 billion, a P/E ratio of 5.25, a P/E/G ratio of 1.07 and a beta of 0.51. The company has a 50 day moving average price of $51.11 and a 200 day moving average price of $45.69. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $58.44.

Sonoco Products (NYSE:SON) last posted its earnings results on Tuesday, February 17th. The industrial products company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The company 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%. Sonoco Products’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, equities research analysts forecast that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The firm 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 yield of 4.0%. The ex-dividend date of this dividend was Wednesday, February 25th. Sonoco Products’s dividend payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

SON has been the topic of a number of recent research reports. Wall Street Zen raised Sonoco Products from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Raymond James Financial reaffirmed a “market perform” rating on shares of Sonoco Products in a research note on Friday, March 6th. Bank of America upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a report on Monday, January 5th. Truist Financial reissued a “buy” rating and set a $69.00 target price (up from $54.00) on shares of Sonoco Products in a research report on Friday, February 20th. Finally, Wells Fargo & Company boosted their price target on shares of Sonoco Products from $47.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Sonoco Products currently has a consensus rating of “Hold” and an average price target of $62.63.

About Sonoco Products

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.