Entropy Technologies LP Sells 14,317 Shares of Sonoco Products (NYSE:SON)

Entropy Technologies LP cut its position in Sonoco Products (NYSE:SON) by 42.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,660 shares of the industrial products company’s stock after selling 14,317 shares during the period. Entropy Technologies LP’s holdings in Sonoco Products were worth $1,137,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in Sonoco Products during the 4th quarter worth about $969,000. Vanguard Group Inc. raised its stake in shares of Sonoco Products by 0.6% in the third quarter. Vanguard Group Inc. now owns 10,969,740 shares of the industrial products company’s stock worth $596,205,000 after acquiring an additional 64,047 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Sonoco Products by 105.0% during the fourth quarter. Brown Advisory Inc. now owns 724,637 shares of the industrial products company’s stock worth $40,485,000 after purchasing an additional 371,096 shares in the last quarter. Speece Thorson Capital Group Inc. grew its stake in shares of Sonoco Products by 18.2% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 266,036 shares of the industrial products company’s stock valued at $14,863,000 after purchasing an additional 41,006 shares during the last quarter. Finally, Invenomic Capital Management LP increased its holdings in shares of Sonoco Products by 49.7% in the fourth quarter. Invenomic Capital Management LP now owns 97,813 shares of the industrial products company’s stock valued at $5,465,000 after purchasing an additional 32,460 shares in the last quarter. 77.69% of the stock is owned by institutional investors.

Sonoco Products Trading Up 1.7 %

Shares of Sonoco Products stock traded up $0.87 on Wednesday, hitting $52.16. 714,458 shares of the company’s stock traded hands, compared to its average volume of 567,646. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.31 and a quick ratio of 0.83. The stock has a market capitalization of $5.13 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 2.22 and a beta of 0.68. The firm’s 50-day moving average price is $56.20 and its two-hundred day moving average price is $56.73.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 earnings per share. On average, research analysts expect that Sonoco Products will post 5.08 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.99%. Sonoco Products’s dividend payout ratio is 52.53%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SON. Wells Fargo & Company reduced their price objective on Sonoco Products from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup lowered their price objective on Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.50.

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.