Dimensional Fund Advisors LP Buys 17,046 Shares of Sonoco Products (NYSE:SON)

Dimensional Fund Advisors LP boosted its position in shares of Sonoco Products (NYSE:SON – Get Rating) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,907,106 shares of the industrial products company’s stock after buying an additional 17,046 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Sonoco Products were worth $115,780,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Belpointe Asset Management LLC acquired a new position in shares of Sonoco Products in the 4th quarter valued at $45,000. Pinnacle Holdings LLC bought a new position in Sonoco Products during the 1st quarter worth about $58,000. Quadrant Capital Group LLC increased its holdings in Sonoco Products by 138.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,017 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 590 shares in the last quarter. Baldwin Brothers LLC MA bought a new position in Sonoco Products during the 4th quarter worth about $73,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Sonoco Products by 126.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,373 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 1,327 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Sonoco Products news, insider Ernest D. Haynes III sold 531 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $57.36, for a total transaction of $30,458.16. Following the sale, the insider now owns 1,198 shares of the company’s stock, valued at $68,717.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Ernest D. Haynes III sold 531 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $57.36, for a total value of $30,458.16. Following the sale, the insider now owns 1,198 shares of the company’s stock, valued at $68,717.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert R. Hill, Jr. bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $56.00 per share, for a total transaction of $560,000.00. Following the acquisition, the director now owns 20,065 shares of the company’s stock, valued at $1,123,640. The disclosure for this purchase can be found here. Insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SON shares. Citigroup decreased their price objective on Sonoco Products from $71.00 to $69.00 and set a “buy” rating for the company in a report on Monday, February 13th. Argus upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, February 14th. They noted that the move was a valuation call. Seaport Res Ptn upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating in a research report on Monday, March 20th. Bank of America lifted their price target on shares of Sonoco Products from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, April 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sonoco Products from $61.00 to $57.00 in a research report on Wednesday, March 15th. 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.com, Sonoco Products has a consensus rating of “Hold” and a consensus target price of $66.17.

Sonoco Products Stock Up 0.3 %

NYSE SON opened at $59.66 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.79 and a debt-to-equity ratio of 1.23. Sonoco Products has a 1-year low of $51.52 and a 1-year high of $65.96. The company has a 50 day moving average of $59.42 and a 200-day moving average of $59.70. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.05 and a beta of 0.71.

Sonoco Products (NYSE:SON – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Sonoco Products had a net margin of 6.93% and a return on equity of 29.17%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $1.85 earnings per share. On average, equities research analysts expect that Sonoco Products will post 5.82 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Tuesday, May 9th. This is a boost from Sonoco Products’s previous quarterly dividend of $0.49. Sonoco Products’s payout ratio is presently 40.40%.

Sonoco Products Profile

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Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging, Paper and Industrial Converted Products, Protective Solutions, and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers, fiber and plastic caulk and adhesive tubes, and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.