Entropy Technologies LP Acquires New Holdings in Sonoco Products (NYSE:SON)

Entropy Technologies LP bought a new stake in Sonoco Products (NYSE:SON) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,656 shares of the industrial products company’s stock, valued at approximately $911,000.

Several other institutional investors and hedge funds have also bought and sold shares of SON. Kingsview Wealth Management LLC lifted its holdings in shares of Sonoco Products by 17.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 169,340 shares of the industrial products company’s stock valued at $8,272,000 after purchasing an additional 24,607 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Sonoco Products by 40.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,970 shares of the industrial products company’s stock valued at $829,000 after buying an additional 4,860 shares in the last quarter. Centennial Wealth Advisory LLC raised its stake in Sonoco Products by 15.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 6,530 shares of the industrial products company’s stock valued at $319,000 after buying an additional 851 shares during the last quarter. Meadow Creek Wealth Advisors LLC acquired a new stake in Sonoco Products in the fourth quarter worth about $11,672,000. Finally, Private Management Group Inc. grew its stake in shares of Sonoco Products by 27.7% during the fourth quarter. Private Management Group Inc. now owns 584,390 shares of the industrial products company’s stock worth $28,547,000 after acquiring an additional 126,867 shares during the last quarter. 77.69% of the stock is owned by hedge funds and other institutional investors.

Sonoco Products Stock Performance

NYSE SON opened at $47.38 on Tuesday. The firm 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. The stock has a 50-day simple moving average of $48.92 and a two-hundred day simple moving average of $51.32. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. Sonoco Products has a fifty-two week low of $45.93 and a fifty-two week high of $61.73.

Insider Activity at Sonoco Products

In related news, Director Robert R. Hill, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $47.95, for a total transaction of $191,800.00. Following the sale, the director now owns 16,065 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on SON shares. Robert W. Baird lowered their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company lowered their price objective 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 upped 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. 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 report on Monday, January 6th. Finally, Bank of America raised their price objective on Sonoco Products from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

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.