Sonoco Products (NYSE:SON) Announces Earnings Results
Sonoco Products (NYSE:SON) issued its earnings results on Thursday. The industrial products company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75, RTT News reports. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sonoco Products had a net margin of 5.99% and a return on equity of 20.08%. Sonoco Products’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share.
Shares of Sonoco Products stock traded up $0.29 during trading hours on Friday, reaching $57.90. 1,310 shares of the company were exchanged, compared to its average volume of 403,866. The firm has a market cap of $5.64 billion, a PE ratio of 18.07, a PEG ratio of 3.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.82 and a current ratio of 1.20. Sonoco Products has a 1 year low of $55.12 and a 1 year high of $66.57. The stock’s fifty day moving average is $59.06 and its 200 day moving average is $58.74.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 26th will be given a $0.43 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $1.72 annualized dividend and a yield of 2.97%. Sonoco Products’s dividend payout ratio is presently 51.04%.
In related news, VP Harold G. Cummings III sold 532 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $60.52, for a total transaction of $32,196.64. Following the sale, the vice president now directly owns 2,832 shares in the company, valued at $171,392.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James A. Harrell III sold 825 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $60.00, for a total transaction of $49,500.00. Following the completion of the sale, the vice president now directly owns 16,413 shares in the company, valued at approximately $984,780. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,858 shares of company stock valued at $112,759. 1.30% of the stock is currently owned by company insiders.
About Sonoco Products
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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