Insider Buying: Reynolds Consumer Products Inc. (NASDAQ:REYN) Director Acquires 7,207 Shares of Stock

Reynolds Consumer Products Inc. (NASDAQ:REYN) Director Rolf Stangl purchased 7,207 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $27.25 per share, with a total value of $196,390.75. Following the transaction, the director now directly owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Reynolds Consumer Products Stock Up 0.7 %

REYN opened at $27.13 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. The company has a market capitalization of $5.70 billion, a PE ratio of 15.50 and a beta of 0.50. The stock’s fifty day moving average is $30.48 and its 200-day moving average is $29.20. Reynolds Consumer Products Inc. has a one year low of $25.60 and a one year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $902.88 million. During the same quarter last year, the firm posted $0.37 earnings per share. Reynolds Consumer Products’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s payout ratio is 52.57%.

Analyst Upgrades and Downgrades

REYN has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research note on Thursday, August 29th. They set a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada increased their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Barclays cut their target price on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group lifted their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.17.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock valued at $27,000 after acquiring an additional 801 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Reynolds Consumer Products during the second quarter worth $39,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Reynolds Consumer Products during the second quarter valued at $54,000. Capital Performance Advisors LLP acquired a new position in shares of Reynolds Consumer Products in the 3rd quarter valued at $70,000. Finally, Venturi Wealth Management LLC increased its stake in Reynolds Consumer Products by 93.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock worth $80,000 after purchasing an additional 1,239 shares in the last quarter. Institutional investors and hedge funds own 26.81% 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.