Bahl & Gaynor Inc. Has $7.20 Million Holdings in Sonoco Products (NYSE:SON)

Bahl & Gaynor Inc. boosted its position in Sonoco Products (NYSE:SON) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 128,848 shares of the industrial products company’s stock after buying an additional 1,658 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.13% of Sonoco Products worth $7,199,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Sonoco Products by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,969,740 shares of the industrial products company’s stock worth $596,205,000 after purchasing an additional 64,047 shares during the last quarter. Foundry Partners LLC increased its position in Sonoco Products by 36.6% during the third quarter. Foundry Partners LLC now owns 72,266 shares of the industrial products company’s stock worth $3,928,000 after buying an additional 19,354 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Sonoco Products during the 3rd quarter worth approximately $624,000. Financial Engines Advisors L.L.C. increased its holdings in shares of Sonoco Products by 84.8% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 27,600 shares of the industrial products company’s stock worth $1,500,000 after acquiring an additional 12,661 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in Sonoco Products by 14.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 32,499 shares of the industrial products company’s stock valued at $1,766,000 after purchasing an additional 4,058 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Insider Buying and Selling at Sonoco Products

In other news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.53, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Russell K. Grissett sold 2,039 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total value of $114,306.34. Following the transaction, the insider now owns 11,988 shares in the company, valued at $672,047.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 value 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 three months, insiders sold 13,076 shares of company stock worth $749,002. 0.51% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Sonoco Products Price Performance

Shares of Sonoco Products stock traded up $0.33 on Friday, reaching $56.51. 342,685 shares of the stock were exchanged, compared to its average volume of 430,805. The firm’s 50 day moving average is $56.93 and its 200-day moving average is $55.92. The firm has a market cap of $5.55 billion, a PE ratio of 11.77, a P/E/G ratio of 2.17 and a beta of 0.68. Sonoco Products has a one year low of $49.98 and a one year high of $63.74. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.76.

Sonoco Products (NYSE:SON) last announced 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm posted $1.27 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, analysts anticipate that Sonoco Products will post 5.21 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, May 9th. This is a boost from Sonoco Products’s previous quarterly dividend of $0.51. Sonoco Products’s dividend payout ratio is presently 43.33%.

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.