Truvestments Capital LLC Boosts Holdings in Sonoco Products (NYSE:SON)

Truvestments Capital LLC lifted its stake in shares of Sonoco Products (NYSE:SON) by 16.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,622 shares of the industrial products company’s stock after purchasing an additional 6,526 shares during the period. Truvestments Capital LLC’s holdings in Sonoco Products were worth $2,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SON. Kennebec Savings Bank acquired a new position in shares of Sonoco Products during the third quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new position in Sonoco Products in the 3rd quarter valued at $33,000. Abich Financial Wealth Management LLC purchased a new position in Sonoco Products in the 2nd quarter valued at $50,000. Gradient Investments LLC acquired a new stake in Sonoco Products during the 2nd quarter worth $58,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sonoco Products by 821.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,879 shares of the industrial products company’s stock worth $95,000 after buying an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Stock Up 1.5 %

SON stock opened at $50.92 on Monday. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The firm has a market cap of $5.00 billion, a PE ratio of 17.50, a PEG ratio of 2.09 and a beta of 0.69. The firm’s 50 day moving average price is $52.72 and its 200-day moving average price is $53.88. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. On average, equities research analysts anticipate that Sonoco Products will post 5.1 EPS for the current year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio is presently 71.48%.

Wall Street Analysts Forecast Growth

SON has been the topic of a number of research reports. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Robert W. Baird reduced their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, Citigroup upped their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.00.

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 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.