GAMMA Investing LLC Invests $133,000 in Sonoco Products (NYSE:SON)

GAMMA Investing LLC purchased a new position in Sonoco Products (NYSE:SON) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,338 shares of the industrial products company’s stock, valued at approximately $133,000.

Several other institutional investors have also recently made changes to their positions in the company. Wedge Capital Management L L P NC increased its holdings in shares of Sonoco Products by 29.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 130,509 shares of the industrial products company’s stock worth $7,292,000 after purchasing an additional 29,543 shares during the period. CWM LLC increased its stake in Sonoco Products by 751.5% in the fourth quarter. CWM LLC now owns 1,967 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,736 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Sonoco Products in the fourth quarter valued at $626,000. AIA Group Ltd bought a new position in Sonoco Products in the fourth quarter valued at $312,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sonoco Products by 11.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,630 shares of the industrial products company’s stock valued at $1,153,000 after acquiring an additional 2,186 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Sonoco Products Stock Performance

NYSE SON opened at $56.51 on Friday. The company has a 50-day simple moving average of $56.93 and a two-hundred day simple moving average of $55.93. The company has a quick ratio of 1.10, a current ratio of 1.76 and a debt-to-equity ratio of 1.25. Sonoco Products has a 12-month low of $49.98 and a 12-month high of $63.74. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.17 and a beta of 0.68.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. 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 5.21 EPS for the current year.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.68%. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, May 9th. Sonoco Products’s dividend payout ratio is presently 42.50%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup reduced their target price on Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. TheStreet cut Sonoco Products from a “b-” rating to a “c+” rating in a research note on Wednesday, February 14th. Finally, Wells Fargo & Company reduced their target price on Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Sonoco Products presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Transactions at Sonoco Products

In other news, VP Adam Wood sold 537 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 28,273 shares in the company, valued at $1,612,691.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Adam Wood sold 537 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 28,273 shares in the company, valued at $1,612,691.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey S. Tomaszewski sold 10,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.53, for a total transaction of $604,065.00. Following the sale, the insider now owns 13,456 shares of the company’s stock, valued at $774,123.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,076 shares of company stock worth $749,002. Company insiders own 0.51% of the company’s stock.

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.