Advisors Asset Management Inc. Buys 17,165 Shares of Sonoco Products Company $SON

Advisors Asset Management Inc. raised its stake in Sonoco Products Company (NYSE:SON) by 58.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,590 shares of the industrial products company’s stock after acquiring an additional 17,165 shares during the period. Advisors Asset Management Inc.’s holdings in Sonoco Products were worth $2,008,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sonoco Products by 44.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,093 shares of the industrial products company’s stock valued at $2,319,000 after purchasing an additional 15,079 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Sonoco Products by 80.8% during the first quarter. Goldman Sachs Group Inc. now owns 206,493 shares of the industrial products company’s stock valued at $9,755,000 after buying an additional 92,286 shares during the last quarter. Empowered Funds LLC increased its position in shares of Sonoco Products by 14.1% during the first quarter. Empowered Funds LLC now owns 11,058 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 1,364 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Sonoco Products by 87.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 545,179 shares of the industrial products company’s stock worth $25,754,000 after acquiring an additional 255,055 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Sonoco Products by 122.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,665 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 5,320 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Sonoco Products Trading Up 0.7%

Shares of NYSE SON opened at $51.66 on Monday. The business’s 50 day moving average price is $46.47 and its 200-day moving average price is $44.43. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.80 and a beta of 0.54. Sonoco Products Company has a fifty-two week low of $38.65 and a fifty-two week high of $52.38.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, February 25th. Sonoco Products’s dividend payout ratio is 33.65%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Sonoco Products from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Bank of America upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sonoco Products in a report on Wednesday, January 21st. Truist Financial boosted their price objective on shares of Sonoco Products from $53.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, Raymond James Financial set a $60.00 price objective on shares of Sonoco Products in a report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.86.

Sonoco Products Profile

Sonoco Products Company (NYSE: SON) is a global provider of diversified packaging solutions, serving a wide range of consumer, industrial and retail markets. The company offers a broad portfolio that includes rigid paper and plastic containers, flexible packaging, industrial core and tube products, thermoformed plastics, retail point-of-purchase displays, and packaging supply chain services. Through its solutions, Sonoco helps customers in food and beverage, personal care, chemicals, healthcare, home and garden, and electronics industries address their packaging needs, improve product shelf appeal, and optimize logistics efficiency.

With operations in more than 30 countries across North America, South America, Europe, Asia and Africa, Sonoco leverages a global network of manufacturing facilities, recycling centers and distribution channels to meet the demands of multinational and regional customers.