Sonoco Products Company (NYSE:SON) Shares Set to Pay Quarterly Dividend of $0.54

Sonoco Products Company (NYSE:SON) announced a quarterly dividend on Tuesday, October 20th. Investors 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 annualized dividend and a 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% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sonoco Products to earn $6.16 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 35.1%.

Sonoco Products Price Performance

Shares of Sonoco Products stock traded up $0.37 during trading on Wednesday, hitting $51.20. The stock had a trading volume of 374,990 shares, compared to its average volume of 1,150,650. The business has a fifty day moving average of $51.82 and a two-hundred day moving average of $52.60. Sonoco Products has a fifty-two week low of $38.65 and a fifty-two week high of $60.67. The firm has a market cap of $5.06 billion, a P/E ratio of 8.14, a PEG ratio of 1.28 and a beta of 0.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.47 by $0.04. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%. Sonoco Products’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 earnings per share. On average, sell-side analysts expect that Sonoco Products will post 5.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sonoco Products

A number of large investors have recently made changes to their positions in SON. WPG Advisers LLC increased its holdings in shares of Sonoco Products by 93.1% during the 1st quarter. WPG Advisers LLC now owns 612 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 295 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in Sonoco Products by 271.9% during the third quarter. Elevation Wealth Partners LLC now owns 1,127 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 824 shares during the period. Parallel Advisors LLC grew its position in shares of Sonoco Products by 34.7% in the first quarter. Parallel Advisors LLC now owns 1,778 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 458 shares during the last quarter. CX Institutional bought a new position in shares of Sonoco Products in the third quarter worth about $98,000. Finally, Hilltop National Bank increased its stake in shares of Sonoco Products by 49.7% in the second quarter. Hilltop National Bank now owns 1,777 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 590 shares during the period. Institutional investors and hedge funds own 77.69% of the company’s stock.

Sonoco Products Company Profile

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.