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

Truvestments Capital LLC lifted its position in Sonoco Products (NYSE:SON) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,622 shares of the industrial products company’s stock after buying an additional 6,526 shares during the quarter. Truvestments Capital LLC’s holdings in Sonoco Products were worth $2,547,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new position in Sonoco Products in the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Sonoco Products during the third quarter worth about $33,000. Abich Financial Wealth Management LLC purchased a new position in shares of Sonoco Products in the second quarter valued at approximately $50,000. Gradient Investments LLC acquired a new position in shares of Sonoco Products in the second quarter valued at approximately $58,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Sonoco Products by 821.1% during the 2nd 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 during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Price Performance

Shares of SON opened at $50.92 on Monday. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.09 and a beta of 0.69. The firm’s fifty day simple moving average is $52.72 and its 200-day simple moving average is $53.88. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share 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 analysts’ expectations of $1.72 billion. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. Sonoco Products’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $1.46 earnings per share. Equities analysts forecast that Sonoco Products will post 5.1 EPS for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is 71.48%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SON. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Robert W. Baird decreased their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Citigroup boosted their target price on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.00.

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.