Sonoco Products Company (NYSE:SON) declared a quarterly dividend on Monday, October 16th, RTT News reports. Investors of record on Friday, November 10th will be paid a dividend of 0.39 per share by the industrial products company on Friday, December 8th. This represents a $1.56 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, November 9th.

Sonoco Products has increased its dividend by an average of 5.9% annually over the last three years and has raised its dividend every year for the last 36 years. Sonoco Products has a dividend payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Sonoco Products to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 51.5%.

Sonoco Products (SON) opened at $51.91 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $5,134.06, a price-to-earnings ratio of 19.27, a P/E/G ratio of 3.96 and a beta of 1.15.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. research analysts expect that Sonoco Products will post 2.8 earnings per share for the current year.

A number of equities analysts recently issued reports on the stock. Bank of America Corporation raised their price objective on shares of Sonoco Products from $55.00 to $56.00 and gave the stock an “underperform” rating in a report on Friday, July 21st. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday, October 19th. Barclays PLC reissued an “underweight” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Sonoco Products in a report on Monday, July 24th. Robert W. Baird reissued a “buy” rating and issued a $60.00 price objective on shares of Sonoco Products in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of Sonoco Products from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Sonoco Products has a consensus rating of “Hold” and an average target price of $52.00.

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In other Sonoco Products news, CFO Barry L. Saunders sold 5,645 shares of Sonoco Products stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $52.39, for a total transaction of $295,741.55. Following the transaction, the chief financial officer now owns 60,455 shares of the company’s stock, valued at $3,167,237.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marcy J. Thompson sold 565 shares of Sonoco Products stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total transaction of $28,815.00. The disclosure for this sale can be found here. Insiders have sold 6,937 shares of company stock worth $363,088 in the last ninety days. Insiders own 1.90% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

Dividend History for Sonoco Products (NYSE:SON)

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