Rhumbline Advisers Sells 2,479 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Rhumbline Advisers trimmed its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 3.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 66,286 shares of the company’s stock after selling 2,479 shares during the quarter. Rhumbline Advisers’ holdings in Reynolds Consumer Products were worth $1,582,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in Reynolds Consumer Products by 1,493.1% in the first quarter. GAMMA Investing LLC now owns 20,233 shares of the company’s stock worth $483,000 after purchasing an additional 18,963 shares during the last quarter. Versant Capital Management Inc boosted its position in Reynolds Consumer Products by 38.1% in the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock worth $61,000 after purchasing an additional 701 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in Reynolds Consumer Products in the fourth quarter worth about $496,000. Mackenzie Financial Corp purchased a new position in Reynolds Consumer Products in the fourth quarter worth about $770,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Reynolds Consumer Products by 7.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,220 shares of the company’s stock worth $3,758,000 after purchasing an additional 9,457 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

REYN has been the topic of several research reports. Canaccord Genuity Group dropped their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen raised Reynolds Consumer Products from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Stifel Nicolaus dropped their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Truist Financial lowered their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.33.

Insider Activity at Reynolds Consumer Products

In other news, CAO Chris Mayrhofer acquired 18,218 shares of the firm’s stock in a transaction dated Thursday, May 29th. The shares were acquired at an average cost of $22.14 per share, with a total value of $403,346.52. Following the acquisition, the chief accounting officer now directly owns 18,218 shares of the company’s stock, valued at approximately $403,346.52. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rolf Stangl acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the completion of the acquisition, the director now directly owns 19,389 shares in the company, valued at approximately $450,212.58. This represents a 14.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 30,266 shares of company stock valued at $670,052. 0.15% of the stock is owned by company insiders.

Reynolds Consumer Products Stock Down 0.3%

REYN stock opened at $21.06 on Thursday. The business’s 50-day moving average price is $22.70 and its 200-day moving average price is $24.63. The stock has a market cap of $4.43 billion, a P/E ratio of 13.16 and a beta of 0.58. Reynolds Consumer Products Inc. has a twelve month low of $20.91 and a twelve month high of $32.65. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. On average, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products’s dividend payout ratio (DPR) is presently 57.50%.

About Reynolds Consumer Products

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.