Mutual of America Capital Management LLC Has $3.38 Million Holdings in Sonoco Products (NYSE:SON)

Mutual of America Capital Management LLC lessened its holdings in shares of Sonoco Products (NYSE:SON) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,529 shares of the industrial products company’s stock after selling 3,147 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Sonoco Products worth $3,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SON. State Street Corp grew its position in shares of Sonoco Products by 13.4% during the 1st quarter. State Street Corp now owns 8,240,829 shares of the industrial products company’s stock worth $515,546,000 after purchasing an additional 972,157 shares in the last quarter. Norges Bank acquired a new stake in shares of Sonoco Products during the 4th quarter worth approximately $53,429,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Sonoco Products during the 1st quarter worth approximately $51,618,000. FMR LLC boosted its position in shares of Sonoco Products by 1,231.2% during the 3rd quarter. FMR LLC now owns 694,263 shares of the industrial products company’s stock worth $37,733,000 after acquiring an additional 642,109 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Sonoco Products by 20.2% during the 3rd quarter. American Century Companies Inc. now owns 2,787,019 shares of the industrial products company’s stock worth $151,474,000 after acquiring an additional 467,431 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Insider Activity

In other news, VP Adam Wood sold 537 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total transaction of $30,630.48. Following the completion of the transaction, the vice president now owns 28,273 shares of the company’s stock, valued at $1,612,691.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Adam Wood sold 537 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total transaction of $30,630.48. Following the completion of the transaction, the vice president now owns 28,273 shares of the company’s stock, valued at $1,612,691.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey S. Tomaszewski sold 10,500 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.53, for a total transaction of $604,065.00. Following the transaction, the insider now directly owns 13,456 shares of the company’s stock, valued at approximately $774,123.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,076 shares of company stock valued at $749,002. Insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SON shares. TheStreet lowered shares of Sonoco Products from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Wells Fargo & Company reduced their price target on shares of Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Finally, Citigroup reduced their price target on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $55.79 on Thursday. Sonoco Products has a fifty-two week low of $49.98 and a fifty-two week high of $63.74. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.76 and a quick ratio of 1.10. The firm has a market capitalization of $5.47 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.14 and a beta of 0.68. The company’s 50 day moving average price is $56.94 and its two-hundred day moving average price is $55.80.

Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, February 15th. The industrial products company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business earned $1.27 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts forecast that Sonoco Products will post 5.26 earnings per share for the current fiscal year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.73%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. Sonoco Products’s dividend payout ratio (DPR) is presently 42.50%.

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.