Oak Thistle LLC Boosts Stock Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Oak Thistle LLC raised its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 66.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,797 shares of the company’s stock after buying an additional 4,710 shares during the period. Oak Thistle LLC’s holdings in Reynolds Consumer Products were worth $318,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of Reynolds Consumer Products in the third quarter valued at approximately $29,000. Eagle Bay Advisors LLC acquired a new position in Reynolds Consumer Products in the 4th quarter valued at $40,000. Abich Financial Wealth Management LLC purchased a new position in shares of Reynolds Consumer Products during the 2nd quarter worth $54,000. Capital Performance Advisors LLP acquired a new stake in shares of Reynolds Consumer Products during the third quarter worth $70,000. Finally, Venturi Wealth Management LLC grew its position in shares of Reynolds Consumer Products by 93.7% in the third quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after purchasing an additional 1,239 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

Reynolds Consumer Products Price Performance

REYN opened at $27.09 on Friday. Reynolds Consumer Products Inc. has a 52-week low of $25.88 and a 52-week high of $32.65. The company has a 50 day moving average of $27.35 and a two-hundred day moving average of $28.76. The company has a market cap of $5.69 billion, a P/E ratio of 15.48 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business had revenue of $910.00 million for the quarter, compared to analysts’ expectations of $902.88 million. During the same period last year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.40%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 52.57%.

Insiders Place Their Bets

In other news, Director Rolf Stangl bought 3,682 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the director now owns 10,889 shares of the company’s stock, valued at $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Helen Golding purchased 1,190 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now directly owns 1,190 shares in the company, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 12,079 shares of company stock worth $330,466 in the last 90 days. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on REYN shares. Barclays reduced their target price on Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday. Finally, UBS Group cut their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.86.

Reynolds Consumer Products Profile

Reynolds Consumer Products Inc produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.