Reynolds Consumer Products (NASDAQ:REYN) Sets New 1-Year Low – Here’s What Happened

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $23.10 and last traded at $23.66, with a volume of 231 shares traded. The stock had previously closed at $23.64.

Wall Street Analyst Weigh In

REYN has been the topic of several research reports. Evercore ISI cut their price objective on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Canaccord Genuity Group dropped their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus reduced their price objective on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. UBS Group decreased their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Barclays cut their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.38.

Reynolds Consumer Products Trading Up 0.1 %

The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 14.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The business has a 50-day moving average of $25.30 and a 200-day moving average of $27.61.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.89%. The ex-dividend date was Friday, February 14th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 54.76%.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl bought 6,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were bought at an average cost of $24.89 per share, with a total value of $149,340.00. Following the acquisition, the director now owns 16,889 shares in the company, valued at $420,367.21. This trade represents a 55.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Reynolds Consumer Products

A number of hedge funds and other institutional investors have recently bought and sold shares of REYN. Ariel Investments LLC lifted its position in shares of Reynolds Consumer Products by 6.1% in the fourth quarter. Ariel Investments LLC now owns 7,446 shares of the company’s stock valued at $201,000 after buying an additional 426 shares during the last quarter. Isthmus Partners LLC raised its stake in Reynolds Consumer Products by 0.6% in the 4th quarter. Isthmus Partners LLC now owns 87,307 shares of the company’s stock valued at $2,356,000 after acquiring an additional 533 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Reynolds Consumer Products by 4.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock valued at $363,000 after purchasing an additional 566 shares during the last quarter. MML Investors Services LLC boosted its position in Reynolds Consumer Products by 1.3% during the third quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock worth $1,515,000 after purchasing an additional 641 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Reynolds Consumer Products by 115.2% in the fourth quarter. Blue Trust Inc. now owns 1,304 shares of the company’s stock valued at $35,000 after purchasing an additional 698 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Company 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.