Tandem Investment Advisors Inc. Sells 10,535 Shares of Sonoco Products (NYSE:SON)

Tandem Investment Advisors Inc. decreased its holdings in shares of Sonoco Products (NYSE:SON) by 57.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,960 shares of the industrial products company’s stock after selling 10,535 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Sonoco Products were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SON. Bruce G. Allen Investments LLC bought a new position in shares of Sonoco Products in the fourth quarter worth $28,000. Authentikos Wealth Advisory LLC bought a new position in shares of Sonoco Products in the third quarter worth $34,000. Point72 Asset Management L.P. bought a new position in shares of Sonoco Products in the second quarter worth $34,000. Dark Forest Capital Management LP bought a new position in shares of Sonoco Products in the first quarter worth $50,000. Finally, M&R Capital Management Inc. increased its holdings in shares of Sonoco Products by 298.3% in the fourth quarter. M&R Capital Management Inc. now owns 924 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 692 shares during the period. Institutional investors own 77.69% of the company’s stock.

Insider Transactions at Sonoco Products

In related 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 value of $30,630.48. Following the completion of the transaction, the vice president now directly 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 SEC, which is available through this link. In other Sonoco Products news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 13,456 shares of the company’s stock, valued at $774,123.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Adam Wood sold 537 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SON shares. Wells Fargo & Company decreased 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 report on Tuesday, February 20th. TheStreet lowered shares of Sonoco Products from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Finally, Citigroup cut their target price on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Sonoco Products Price Performance

NYSE:SON traded down $0.37 during midday trading on Wednesday, hitting $55.79. The company had a trading volume of 414,939 shares, compared to its average volume of 434,542. The stock’s fifty day moving average price is $56.95 and its 200-day moving average price is $55.80. 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 52-week low of $49.98 and a 52-week high of $63.74. The company has a market capitalization of $5.47 billion, a PE ratio of 11.62, a P/E/G ratio of 2.15 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. As a group, research analysts expect that Sonoco Products will post 5.26 earnings per share for the current year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.73%. Sonoco Products’s dividend payout ratio is currently 42.50%.

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.