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

Entropy Technologies LP purchased a new stake in Sonoco Products (NYSE:SON - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,656 shares of the industrial products company's stock, valued at approximately $911,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in shares of Sonoco Products in the 3rd quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in Sonoco Products during the 3rd quarter worth about $33,000. Wilmington Savings Fund Society FSB bought a new stake in Sonoco Products during the 3rd quarter worth about $71,000. Albion Financial Group UT bought a new stake in shares of Sonoco Products in the 4th quarter valued at about $84,000. Finally, Quantbot Technologies LP bought a new stake in shares of Sonoco Products in the 3rd quarter valued at about $111,000. Institutional investors own 77.69% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SON. Citigroup lowered their price target on Sonoco Products from $59.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Bank of America upped their price target on Sonoco Products from $66.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Wells Fargo & Company cut their price objective on Sonoco Products from $52.00 to $50.00 and set an "underweight" rating for the company in a report on Monday, January 6th. Truist Financial increased their price objective on Sonoco Products from $63.00 to $68.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Robert W. Baird cut their price target on Sonoco Products from $58.00 to $55.00 and set a "neutral" rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $60.17.

Sonoco Products Stock Performance

SON stock traded down $0.41 during trading hours on Friday, hitting $47.79. 596,953 shares of the stock were exchanged, compared to its average volume of 715,248. The company has a current ratio of 2.36, a quick ratio of 1.91 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $4.70 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.76 and a beta of 0.67. The company has a 50-day simple moving average of $48.61 and a two-hundred day simple moving average of $51.20. Sonoco Products has a 12 month low of $45.93 and a 12 month high of $61.73.

Sonoco Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 26th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Wednesday, February 26th. Sonoco Products's payout ratio is currently 71.48%.

Insider Buying and Selling

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $47.95, for a total value of $191,800.00. Following the sale, the director now directly owns 16,065 shares of the company's stock, valued at $770,316.75. This trade represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.51% of the stock is owned by company insiders.

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.