Cerity Partners LLC Buys 49,904 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Cerity Partners LLC raised its stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 418.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,821 shares of the company’s stock after purchasing an additional 49,904 shares during the period. Cerity Partners LLC’s holdings in Reynolds Consumer Products were worth $1,475,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of REYN. Vanguard Group Inc. grew its position in shares of Reynolds Consumer Products by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock valued at $157,704,000 after purchasing an additional 17,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Reynolds Consumer Products by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company’s stock worth $63,586,000 after purchasing an additional 275,601 shares during the last quarter. Geode Capital Management LLC increased its stake in Reynolds Consumer Products by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company’s stock worth $28,953,000 after purchasing an additional 26,664 shares during the period. Sei Investments Co. boosted its position in Reynolds Consumer Products by 13.7% during the 4th quarter. Sei Investments Co. now owns 766,463 shares of the company’s stock valued at $20,687,000 after buying an additional 92,473 shares during the period. Finally, Norges Bank bought a new position in Reynolds Consumer Products during the 4th quarter valued at approximately $17,964,000. 26.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus decreased their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $30.00 price objective on shares of Reynolds Consumer Products in a report on Monday, April 28th. Canaccord Genuity Group decreased their price target on Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Finally, UBS Group decreased their price target on Reynolds Consumer Products from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.67.

Reynolds Consumer Products Trading Down 0.8%

Reynolds Consumer Products stock opened at $21.55 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. Reynolds Consumer Products Inc. has a 12-month low of $20.91 and a 12-month high of $32.65. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 13.47 and a beta of 0.57. The firm has a 50 day moving average of $21.91 and a 200 day moving average of $23.67.

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

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.92 annualized dividend and a yield of 4.27%. Reynolds Consumer Products’s dividend payout ratio is presently 57.50%.

Insiders Place Their Bets

In other news, CAO Chris Mayrhofer purchased 18,218 shares of the stock in a transaction on Thursday, May 29th. The shares were acquired at an average price of $22.14 per share, for a total transaction of $403,346.52. Following the completion of the transaction, the chief accounting officer directly owned 18,218 shares of the company’s stock, valued at approximately $403,346.52. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Rolf Stangl bought 4,500 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was purchased at an average cost of $21.24 per share, with a total value of $95,580.00. Following the transaction, the director directly owned 30,889 shares in the company, valued at approximately $656,082.36. This represents a 17.05% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 34,766 shares of company stock valued at $765,632 in the last three months. 0.15% of the stock is owned by insiders.

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.