Entropy Technologies LP Invests $911,000 in Sonoco Products (NYSE:SON)

Entropy Technologies LP purchased a new stake in Sonoco Products (NYSE:SON) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,656 shares of the industrial products company’s stock, valued at approximately $911,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in shares of Sonoco Products in the 2nd quarter valued at approximately $717,000. CWM LLC lifted its position in Sonoco Products by 111.6% in the third quarter. CWM LLC now owns 6,454 shares of the industrial products company’s stock worth $353,000 after buying an additional 3,404 shares during the last quarter. Novare Capital Management LLC purchased a new position in Sonoco Products during the third quarter worth $213,000. Creative Planning increased its position in Sonoco Products by 4.3% during the third quarter. Creative Planning now owns 11,435 shares of the industrial products company’s stock valued at $625,000 after acquiring an additional 473 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC raised its stake in shares of Sonoco Products by 8.7% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 22,191 shares of the industrial products company’s stock valued at $1,212,000 after acquiring an additional 1,784 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Wall Street Analyst Weigh In

SON has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Sonoco Products from $52.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Truist Financial boosted their target price on Sonoco Products from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Bank of America increased their price target on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup dropped their price objective on Sonoco Products from $59.00 to $55.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Robert W. Baird reduced their target price on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Transactions at Sonoco Products

In other news, Director Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total value of $191,800.00. Following the completion of the sale, the director now owns 16,065 shares of the company’s stock, valued at approximately $770,316.75. This represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.51% of the company’s stock.

Sonoco Products Trading Up 1.0 %

SON opened at $47.38 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.36 and a debt-to-equity ratio of 1.74. The stock’s fifty day moving average is $48.92 and its two-hundred day moving average is $51.32. The company has a market capitalization of $4.66 billion, a P/E ratio of 16.28, a PEG ratio of 0.76 and a beta of 0.67. Sonoco Products has a 52 week low of $45.93 and a 52 week high of $61.73.

Sonoco Products 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.