Concentric Capital Strategies LP Invests $12.63 Million in Sonoco Products Company $SON

Concentric Capital Strategies LP acquired a new position in shares of Sonoco Products Company (NYSE:SON) in the fourth quarter, Holdings Channel reports. The fund acquired 289,417 shares of the industrial products company’s stock, valued at approximately $12,630,000.

A number of other hedge funds have also modified their holdings of SON. SBI Securities Co. Ltd. raised its holdings in shares of Sonoco Products by 77.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 590 shares of the industrial products company’s stock worth $26,000 after buying an additional 258 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Sonoco Products in the 4th quarter worth approximately $29,000. Ameriflex Group Inc. raised its holdings in shares of Sonoco Products by 1,263.6% in the 3rd quarter. Ameriflex Group Inc. now owns 900 shares of the industrial products company’s stock worth $39,000 after buying an additional 834 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Sonoco Products by 1,826.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,002 shares of the industrial products company’s stock worth $43,000 after buying an additional 950 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Sonoco Products in the 4th quarter worth approximately $47,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Robert W. Baird cut their price target on shares of Sonoco Products from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Sonoco Products from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 15th. Wells Fargo & Company cut their price target on shares of Sonoco Products from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, March 20th. Wall Street Zen downgraded shares of Sonoco Products from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a report on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.11.

Sonoco Products Price Performance

Shares of SON stock opened at $50.65 on Thursday. Sonoco Products Company has a 1 year low of $38.65 and a 1 year high of $58.44. The firm’s 50 day moving average is $50.79 and its 200-day moving average is $49.76. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 4.97, a PEG ratio of 1.07 and a beta of 0.39. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.97.

Sonoco Products (NYSE:SON) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.37). Sonoco Products had a return on equity of 16.50% and a net margin of 13.57%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. Sonoco Products’s revenue for the quarter was down 1.9% on a year-over-year basis. Sonoco Products has set its FY 2026 guidance at 5.800-6.200 EPS. Sell-side analysts forecast that Sonoco Products Company will post 5.81 EPS for the current fiscal year.

Sonoco Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were given a dividend of $0.54 per share. The ex-dividend date was Friday, May 8th. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.3%. Sonoco Products’s dividend payout ratio (DPR) is currently 21.18%.

Insider Buying and Selling

In other Sonoco Products news, insider James A. Harrell III purchased 6,753 shares of the stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $50.37 per share, for a total transaction of $340,148.61. Following the transaction, the insider directly owned 10,070 shares in the company, valued at $507,225.90. This represents a 203.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul Joachimczyk purchased 8,058 shares of the stock in a transaction dated Friday, April 24th. The shares were acquired at an average price of $49.64 per share, with a total value of $399,999.12. Following the transaction, the chief financial officer owned 28,558 shares in the company, valued at $1,417,619.12. This trade represents a 39.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.98% of the stock is currently owned by corporate insiders.

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.