Sonoco Products (NYSE:SON) Shares Bought by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. grew its position in Sonoco Products (NYSE:SON) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,967 shares of the industrial products company’s stock after buying an additional 1,145 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Sonoco Products were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in Sonoco Products during the 4th quarter worth approximately $969,000. Speece Thorson Capital Group Inc. grew its position in shares of Sonoco Products by 18.2% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 266,036 shares of the industrial products company’s stock worth $14,863,000 after buying an additional 41,006 shares in the last quarter. Sei Investments Co. increased its stake in shares of Sonoco Products by 6.9% during the first quarter. Sei Investments Co. now owns 1,363,937 shares of the industrial products company’s stock worth $78,890,000 after buying an additional 88,407 shares during the period. Invenomic Capital Management LP increased its position in shares of Sonoco Products by 49.7% in the 4th quarter. Invenomic Capital Management LP now owns 97,813 shares of the industrial products company’s stock valued at $5,465,000 after purchasing an additional 32,460 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Sonoco Products by 49.3% during the 1st quarter. Russell Investments Group Ltd. now owns 123,974 shares of the industrial products company’s stock worth $7,171,000 after purchasing an additional 40,927 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Down 1.3 %

Shares of Sonoco Products stock opened at $53.63 on Thursday. The company has a market cap of $5.27 billion, a P/E ratio of 13.54, a PEG ratio of 2.10 and a beta of 0.68. The firm has a fifty day moving average of $53.11 and a two-hundred day moving average of $55.17. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. Sonoco Products has a one year low of $48.22 and a one year high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.02. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the company posted $1.38 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts forecast that Sonoco Products will post 5.09 earnings per share for the current year.

Sonoco Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Friday, August 9th. Sonoco Products’s dividend payout ratio (DPR) is currently 52.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SON shares. Raymond James started coverage on Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Citigroup boosted their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.00.

Sonoco Products Company 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 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.