Sonoco Products (NYSE:SON) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lessened its holdings in shares of Sonoco Products (NYSE:SON) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,500 shares of the industrial products company’s stock after selling 5,000 shares during the period. Tocqueville Asset Management L.P.’s holdings in Sonoco Products were worth $4,177,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. OneDigital Investment Advisors LLC acquired a new stake in Sonoco Products in the third quarter worth about $210,000. Empowered Funds LLC boosted its stake in Sonoco Products by 13.4% in the 3rd quarter. Empowered Funds LLC now owns 49,073 shares of the industrial products company’s stock worth $2,681,000 after purchasing an additional 5,792 shares in the last quarter. Natixis Advisors LLC grew its position in Sonoco Products by 25.9% during the 3rd quarter. Natixis Advisors LLC now owns 166,881 shares of the industrial products company’s stock worth $9,117,000 after purchasing an additional 34,382 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Sonoco Products by 305.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 97,024 shares of the industrial products company’s stock valued at $5,300,000 after purchasing an additional 73,099 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sonoco Products by 50.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock worth $56,223,000 after buying an additional 344,658 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Performance

NYSE SON opened at $47.42 on Wednesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The stock’s 50 day simple moving average is $47.31 and its 200-day simple moving average is $50.43. The company has a market cap of $4.66 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. Sonoco Products has a 1-year low of $44.36 and a 1-year high of $61.73.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.67 billion. As a group, equities research analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 26th were issued a $0.52 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a yield of 4.39%. Sonoco Products’s payout ratio is 126.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company cut their price objective on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, February 24th. Bank of America upped their target price on Sonoco Products from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com upgraded shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Citigroup lowered their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.50.

Insiders Place Their Bets

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Haley acquired 3,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the purchase, the director now directly owns 18,558 shares of the company’s stock, valued at $867,772.08. The trade was a 19.28 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.51% of the company’s stock.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.