Equitable Trust Co. Has $1.04 Million Stake in Sonoco Products (NYSE:SON)

Equitable Trust Co. lifted its stake in shares of Sonoco Products (NYSE:SON) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,993 shares of the industrial products company’s stock after acquiring an additional 325 shares during the period. Equitable Trust Co.’s holdings in Sonoco Products were worth $1,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Sonoco Products by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,862 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 237 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Sonoco Products by 13.9% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,373 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 289 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sonoco Products by 1.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,765 shares of the industrial products company’s stock worth $1,002,000 after acquiring an additional 298 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Sonoco Products by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 15,200 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 300 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its holdings in shares of Sonoco Products by 7.7% in the third quarter. Impact Partnership Wealth LLC now owns 4,506 shares of the industrial products company’s stock valued at $246,000 after purchasing an additional 323 shares during the last quarter. 77.69% of the stock is owned by institutional investors.

Sonoco Products Trading Up 0.1 %

Shares of SON stock opened at $50.66 on Friday. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The company has a 50 day moving average of $53.64 and a 200-day moving average of $54.37. The firm has a market cap of $4.98 billion, a P/E ratio of 17.41, a PEG ratio of 2.11 and a beta of 0.69.

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

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.11%. Sonoco Products’s payout ratio is 71.48%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $54.00 to $52.00 in a report on Wednesday, August 21st. Robert W. Baird dropped their price target on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Raymond James began coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Sonoco Products currently has an average rating of “Hold” and an average target price of $58.00.

About Sonoco Products

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.