Natixis Advisors LLC Has $11.86 Million Stock Holdings in Sonoco Products Company $SON

Natixis Advisors LLC grew its stake in shares of Sonoco Products Company (NYSE:SON) by 49.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 275,274 shares of the industrial products company’s stock after acquiring an additional 91,539 shares during the quarter. Natixis Advisors LLC owned about 0.28% of Sonoco Products worth $11,862,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. State Street Corp raised its stake in Sonoco Products by 0.3% in the second quarter. State Street Corp now owns 4,470,449 shares of the industrial products company’s stock valued at $194,733,000 after purchasing an additional 13,161 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Sonoco Products by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 3,721,421 shares of the industrial products company’s stock worth $160,353,000 after purchasing an additional 105,798 shares during the period. Bank of America Corp DE grew its stake in Sonoco Products by 6.1% during the second quarter. Bank of America Corp DE now owns 2,804,621 shares of the industrial products company’s stock worth $122,169,000 after buying an additional 162,262 shares in the last quarter. Sei Investments Co. increased its holdings in Sonoco Products by 1.3% in the 2nd quarter. Sei Investments Co. now owns 1,398,881 shares of the industrial products company’s stock valued at $60,935,000 after buying an additional 18,308 shares during the period. Finally, First Trust Advisors LP increased its holdings in Sonoco Products by 12.8% in the 3rd quarter. First Trust Advisors LP now owns 1,384,361 shares of the industrial products company’s stock valued at $59,652,000 after buying an additional 156,793 shares during the period. 77.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sonoco Products

In related news, insider Ernest D. Haynes III sold 1,581 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $56.39, for a total transaction of $89,152.59. Following the sale, the insider owned 9,377 shares in the company, valued at $528,769.03. The trade was a 14.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.74% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SON shares. Truist Financial reaffirmed a “buy” rating and set a $69.00 price target (up from $54.00) on shares of Sonoco Products in a report on Friday, February 20th. UBS Group lifted their price objective on shares of Sonoco Products from $48.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Bank of America upgraded Sonoco Products from a “neutral” rating to a “buy” rating and upped their target price for the stock from $56.00 to $60.00 in a research note on Monday, January 5th. Wall Street Zen raised Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Sonoco Products in a research note on Friday, March 6th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.63.

Sonoco Products Trading Down 0.7%

Shares of Sonoco Products stock opened at $52.78 on Friday. The firm’s 50 day moving average is $51.11 and its 200 day moving average is $45.69. The firm has a market capitalization of $5.21 billion, a PE ratio of 5.24, a price-to-earnings-growth ratio of 1.07 and a beta of 0.51. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $58.44. The company has a current ratio of 1.05, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Tuesday, February 17th. The industrial products company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. Sonoco Products had a net margin of 13.34% and a return on equity of 18.52%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The firm’s revenue was up 29.7% compared to the same quarter last year. Equities research analysts forecast that Sonoco Products Company will post 6.1 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Wednesday, February 25th. Sonoco Products’s dividend payout ratio is presently 21.05%.

About Sonoco Products

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.