Trillium Asset Management LLC Purchases 4,550 Shares of Sonoco Products (NYSE:SON)

Trillium Asset Management LLC lifted its holdings in Sonoco Products (NYSE:SON) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,692 shares of the industrial products company’s stock after acquiring an additional 4,550 shares during the quarter. Trillium Asset Management LLC owned approximately 0.06% of Sonoco Products worth $3,464,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SON. Winthrop Advisory Group LLC bought a new stake in shares of Sonoco Products during the second quarter worth $246,000. New Mexico Educational Retirement Board increased its position in Sonoco Products by 15.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 17,700 shares of the industrial products company’s stock valued at $1,080,000 after acquiring an additional 2,400 shares in the last quarter. Meritage Portfolio Management raised its stake in shares of Sonoco Products by 4.8% in the second quarter. Meritage Portfolio Management now owns 39,922 shares of the industrial products company’s stock worth $2,356,000 after acquiring an additional 1,845 shares during the last quarter. Foundry Partners LLC acquired a new position in shares of Sonoco Products during the second quarter worth approximately $3,123,000. Finally, Cerity Partners LLC increased its holdings in shares of Sonoco Products by 6.5% in the first quarter. Cerity Partners LLC now owns 14,578 shares of the industrial products company’s stock valued at $871,000 after purchasing an additional 895 shares in the last quarter. 76.20% of the stock is currently owned by institutional investors.

Sonoco Products Trading Down 0.6 %

Shares of NYSE:SON traded down $0.31 during mid-day trading on Thursday, reaching $55.13. The stock had a trading volume of 11,655 shares, compared to its average volume of 487,168. The firm has a market cap of $5.40 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 2.01 and a beta of 0.71. The firm has a 50 day simple moving average of $53.65 and a two-hundred day simple moving average of $56.91. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 1.37. Sonoco Products has a twelve month low of $49.98 and a twelve month high of $63.74.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.23. Sonoco Products had a net margin of 7.20% and a return on equity of 24.40%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm posted $1.60 earnings per share. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. On average, research analysts predict that Sonoco Products will post 5.3 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.04 annualized dividend and a dividend yield of 3.70%. Sonoco Products’s dividend payout ratio is presently 41.13%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SON shares. Wells Fargo & Company decreased their price objective on Sonoco Products from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 19th. Argus downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Citigroup reduced their target price on shares of Sonoco Products from $69.00 to $65.00 in a research note on Tuesday, October 10th. Finally, StockNews.com downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.40.

Sonoco Products Profile

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 through two segments: Consumer Packaging and Industrial Paper Packaging.