Speece Thorson Capital Group Inc. Purchases 137,881 Shares of Sonoco Products Company $SON

Speece Thorson Capital Group Inc. increased its position in shares of Sonoco Products Company (NYSE:SON) by 63.5% during the second quarter, HoldingsChannel reports. The fund owned 355,136 shares of the industrial products company’s stock after buying an additional 137,881 shares during the quarter. Sonoco Products comprises about 3.1% of Speece Thorson Capital Group Inc.’s portfolio, making the stock its 10th largest holding. Speece Thorson Capital Group Inc.’s holdings in Sonoco Products were worth $15,470,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Strs Ohio acquired a new stake in shares of Sonoco Products during the second quarter valued at about $2,371,000. Atria Investments Inc raised its holdings in Sonoco Products by 13.2% in the 2nd quarter. Atria Investments Inc now owns 38,030 shares of the industrial products company’s stock valued at $1,657,000 after buying an additional 4,440 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in Sonoco Products during the 2nd quarter worth approximately $966,000. GoalVest Advisory LLC grew its holdings in Sonoco Products by 3.1% during the 2nd quarter. GoalVest Advisory LLC now owns 26,391 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 805 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Sonoco Products by 1.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 107,650 shares of the industrial products company’s stock valued at $4,689,000 after acquiring an additional 1,778 shares during the period. 77.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sonoco Products

In related news, Director John R. Haley bought 2,506 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average price of $39.87 per share, for a total transaction of $99,914.22. Following the transaction, the director directly owned 23,310 shares of the company’s stock, valued at approximately $929,369.70. The trade was a 12.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul Joachimczyk bought 20,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average cost of $39.50 per share, for a total transaction of $809,750.00. Following the completion of the purchase, the chief financial officer owned 20,500 shares of the company’s stock, valued at $809,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SON. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on Sonoco Products from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Bank of America reiterated a “neutral” rating and issued a $56.00 price target on shares of Sonoco Products in a research report on Thursday, October 9th. Jefferies Financial Group lowered their price objective on Sonoco Products from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, UBS Group reduced their target price on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.50.

Sonoco Products Stock Performance

Shares of Sonoco Products stock opened at $40.61 on Monday. The business has a 50-day moving average price of $43.71 and a two-hundred day moving average price of $44.85. Sonoco Products Company has a 1-year low of $38.65 and a 1-year high of $53.22. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. The company has a market cap of $4.01 billion, a P/E ratio of 6.45, a PEG ratio of 0.73 and a beta of 0.68.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share (EPS) for the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%.The company had revenue of $1.35 billion for the quarter. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. As a group, analysts anticipate that Sonoco Products Company will post 6.1 EPS for the current year.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.12 annualized dividend and a dividend yield of 5.2%. Sonoco Products’s dividend payout ratio (DPR) is 33.65%.

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.