Sonoco Products Company (SON) to Distribute Quarterly Dividend of $0.54 on December 10th

Sonoco Products Company (NYSE:SON) declared a quarterly dividend on Tuesday, October 20th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.54 per share by the industrial products company on Thursday, December 10th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, November 10th.

Sonoco Products has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sonoco Products to earn $6.10 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 35.4%.

Sonoco Products Trading Up 0.5%

SON opened at $51.07 on Thursday. The stock has a 50-day moving average of $51.68 and a 200 day moving average of $52.58. The company has a current ratio of 0.99, a quick ratio of 0.55 and a debt-to-equity ratio of 0.97. Sonoco Products has a 12 month low of $38.65 and a 12 month high of $60.67. The firm has a market cap of $5.05 billion, a P/E ratio of 8.12, a P/E/G ratio of 1.44 and a beta of 0.35.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.07). The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Sonoco Products had a return on equity of 16.50% and a net margin of 8.41%. Sonoco Products’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 earnings per share. As a group, research analysts forecast that Sonoco Products will post 5.64 EPS for the current year.

Institutional Trading of Sonoco Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Sonoco Products in the second quarter valued at about $657,016,000. Bank of America Corp DE purchased a new position in Sonoco Products during the second quarter worth about $204,968,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Sonoco Products during the second quarter valued at about $1,567,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Sonoco Products during the second quarter valued at about $6,004,000. Finally, Legal & General Group Plc purchased a new stake in shares of Sonoco Products in the 2nd quarter valued at approximately $8,329,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

About Sonoco Products

Sonoco Products Company is a global packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, it has developed from a producer of paper cones for the textile industry into a diversified provider of packaging solutions serving consumer, industrial and commercial customers.

The company manufactures a broad range of products, including composite cans and tubes, paperboard packaging, flexible packaging, thermoformed packaging, rigid plastic containers, protective packaging and packaging components.