Fuller & Thaler Asset Management Inc. Sells 26,296 Shares of Sonoco Products (NYSE:SON)

Fuller & Thaler Asset Management Inc. trimmed its position in Sonoco Products (NYSE:SON) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,102,190 shares of the industrial products company’s stock after selling 26,296 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 2.14% of Sonoco Products worth $102,692,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SON. Vanguard Group Inc. increased its stake in Sonoco Products by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 11,128,725 shares of the industrial products company’s stock worth $543,638,000 after acquiring an additional 120,843 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sonoco Products by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,471 shares of the industrial products company’s stock worth $153,411,000 after purchasing an additional 136,965 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new stake in Sonoco Products during the fourth quarter valued at $78,203,000. Invesco Ltd. lifted its position in Sonoco Products by 13.0% during the fourth quarter. Invesco Ltd. now owns 1,358,002 shares of the industrial products company’s stock valued at $66,338,000 after purchasing an additional 155,893 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Sonoco Products by 3.3% in the 4th quarter. Sei Investments Co. now owns 1,345,054 shares of the industrial products company’s stock worth $65,706,000 after buying an additional 43,238 shares in the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sonoco Products news, Director John R. Haley bought 3,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $46.76 per share, for a total transaction of $140,280.00. Following the acquisition, the director now directly owns 18,558 shares in the company, valued at approximately $867,772.08. The trade was a 19.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO R. Howard Coker purchased 20,000 shares of Sonoco Products stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $46.10 per share, with a total value of $922,000.00. Following the acquisition, the chief executive officer now owns 482,365 shares in the company, valued at approximately $22,237,026.50. This represents a 4.33 % increase in their position. The disclosure for this purchase can be found here. 0.74% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Raymond James decreased their target price on shares of Sonoco Products from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday. StockNews.com raised Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Truist Financial cut their target price on Sonoco Products from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday. Bank of America lifted their price objective on shares of Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company reduced their target price on shares of Sonoco Products from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.43.

Sonoco Products Stock Up 3.6 %

NYSE:SON opened at $45.01 on Wednesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 0.76 and a beta of 0.64. Sonoco Products has a twelve month low of $39.46 and a twelve month high of $61.73. The company has a current ratio of 0.79, a quick ratio of 1.91 and a debt-to-equity ratio of 2.18. The stock has a fifty day simple moving average of $45.78 and a 200-day simple moving average of $48.66.

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

Sonoco Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.12 annualized dividend and a yield of 4.71%. This is a boost from Sonoco Products’s previous quarterly dividend of $0.52. Sonoco Products’s dividend payout ratio is 128.48%.

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.