Amalgamated Bank Reduces Position in Sonoco Products (NYSE:SON)

Amalgamated Bank lessened its position in shares of Sonoco Products (NYSE:SONGet Rating) by 3.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,292 shares of the industrial products company’s stock after selling 2,403 shares during the quarter. Amalgamated Bank owned about 0.07% of Sonoco Products worth $4,335,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SON. Quadrant Capital Group LLC grew its stake in Sonoco Products by 80.0% during the 1st quarter. Quadrant Capital Group LLC now owns 468 shares of the industrial products company’s stock worth $29,000 after buying an additional 208 shares during the last quarter. Pinnacle Holdings LLC purchased a new position in Sonoco Products during the 1st quarter worth approximately $58,000. Meeder Asset Management Inc. purchased a new position in Sonoco Products during the 1st quarter worth approximately $83,000. Dixon Hughes Goodman Wealth Advisors LLC grew its stake in Sonoco Products by 400.0% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 1,750 shares of the industrial products company’s stock worth $109,000 after buying an additional 1,400 shares during the last quarter. Finally, Guardian Wealth Management Inc. purchased a new position in Sonoco Products during the 4th quarter worth approximately $115,000. Hedge funds and other institutional investors own 78.48% of the company’s stock.

Insider Buying and Selling

In related news, COO Rodger D. Fuller sold 1,898 shares of Sonoco Products stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $62.53, for a total transaction of $118,681.94. Following the completion of the transaction, the chief operating officer now directly owns 83,818 shares of the company’s stock, valued at $5,241,139.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Rodger D. Fuller sold 1,898 shares of Sonoco Products stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $62.53, for a total transaction of $118,681.94. Following the completion of the transaction, the chief operating officer now directly owns 83,818 shares of the company’s stock, valued at $5,241,139.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ernest D. Haynes III sold 1,673 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $63.00, for a total value of $105,399.00. Following the completion of the transaction, the insider now directly owns 5,063 shares of the company’s stock, valued at $318,969. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SON shares. Wells Fargo & Company lifted their target price on Sonoco Products to $67.00 in a research note on Friday, July 22nd. StockNews.com downgraded Sonoco Products from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Citigroup lifted their target price on Sonoco Products to $73.00 in a research note on Monday, July 25th. Finally, TheStreet upgraded Sonoco Products from a “c+” rating to a “b-” rating in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.57.

Sonoco Products Stock Down 2.7 %

Sonoco Products stock opened at $59.84 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.36 and a quick ratio of 0.80. Sonoco Products has a 1-year low of $51.52 and a 1-year high of $67.06. The company has a market cap of $5.83 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.94 and a beta of 0.72. The stock’s 50 day moving average price is $62.70 and its 200 day moving average price is $60.41.

Sonoco Products (NYSE:SONGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The industrial products company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. Sonoco Products had a return on equity of 28.33% and a net margin of 6.47%. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. On average, sell-side analysts predict that Sonoco Products will post 6.33 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were issued a dividend of $0.49 per share. The ex-dividend date was Tuesday, August 9th. This represents a $1.96 annualized dividend and a yield of 3.28%. Sonoco Products’s dividend payout ratio is presently 45.79%.

Sonoco Products Company Profile

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Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management.

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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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