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

Cerity Partners LLC lifted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 418.8% during the first quarter, according to the company in its most recent filing with the Securities & 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quarry LP lifted its position in shares of Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after buying an additional 1,649 shares during the last quarter. Versant Capital Management Inc raised 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 valued at $61,000 after purchasing an additional 701 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Reynolds Consumer Products in the fourth quarter valued at about $165,000. Deutsche Bank AG raised its position in Reynolds Consumer Products by 35.8% in the fourth quarter. Deutsche Bank AG now owns 7,247 shares of the company’s stock valued at $196,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Ariel Investments LLC raised its position in 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 purchasing an additional 426 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Price Performance

NASDAQ:REYN opened at $21.55 on Tuesday. The business’s 50-day moving average is $21.91 and its 200 day moving average is $23.67. 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 company has a market capitalization of $4.53 billion, a P/E ratio of 13.47 and a beta of 0.57.

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

Reynolds Consumer Products Dividend Announcement

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

Wall Street Analysts Forecast Growth

REYN has been the subject of a number of research reports. Truist Financial reduced their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Barclays reduced their price objective on Reynolds Consumer Products from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 15th. Wall Street Zen raised Reynolds Consumer Products from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Finally, UBS Group cut their target price on Reynolds Consumer Products from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, July 17th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Reynolds Consumer Products has an average rating of “Hold” and an average price target of $27.67.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl bought 4,500 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were acquired at an average cost of $21.24 per share, with a total value of $95,580.00. Following the purchase, the director directly owned 30,889 shares of the company’s stock, valued at $656,082.36. This trade represents a 17.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Chris Mayrhofer purchased 5,048 shares of Reynolds Consumer Products stock in a transaction dated Friday, May 30th. The shares were purchased at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the transaction, the chief accounting officer owned 23,266 shares in the company, valued at approximately $511,619.34. This trade represents a 27.71% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 34,766 shares of company stock worth $765,632 over the last 90 days. Insiders own 0.15% of the company’s stock.

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.