Pinion Investment Advisors LLC Sells 1,205 Shares of Sonoco Products (NYSE:SON)

Pinion Investment Advisors LLC lessened its stake in shares of Sonoco Products (NYSE:SON) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,882 shares of the industrial products company’s stock after selling 1,205 shares during the period. Pinion Investment Advisors LLC’s holdings in Sonoco Products were worth $532,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Kennebec Savings Bank bought a new position in shares of Sonoco Products in the third quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new stake in Sonoco Products in the 3rd quarter worth $33,000. Principal Securities Inc. grew its holdings in Sonoco Products by 35.0% during the 4th quarter. Principal Securities Inc. now owns 1,355 shares of the industrial products company’s stock valued at $66,000 after buying an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Sonoco Products during the third quarter valued at $71,000. Finally, Albion Financial Group UT purchased a new stake in Sonoco Products in the 4th quarter valued at about $84,000. 77.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John R. Haley purchased 3,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $46.76 per share, with a total value of $140,280.00. Following the purchase, the director now directly owns 18,558 shares of the company’s stock, valued at approximately $867,772.08. This trade represents a 19.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total transaction of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares of the company’s stock, valued at $770,316.75. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SON shares. Bank of America raised their price objective on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Truist Financial lowered their price objective on Sonoco Products from $68.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company decreased their target price on Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, February 24th. StockNews.com downgraded Sonoco Products from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Citigroup lowered their price target on shares of Sonoco Products from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.50.

Sonoco Products Price Performance

Shares of NYSE SON opened at $47.29 on Tuesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.79 and a quick ratio of 1.91. The business has a 50-day moving average of $47.77 and a 200-day moving average of $50.94. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.76 and a beta of 0.67. Sonoco Products has a 1-year low of $44.35 and a 1-year high of $61.73.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.01). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.67 billion. Sonoco Products had a net margin of 2.60% and a return on equity of 20.81%. On average, equities analysts anticipate that Sonoco Products will post 6.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be given a $0.52 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.40%. Sonoco Products’s dividend payout ratio (DPR) is 126.06%.

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.