Weiss Asset Management LP Invests $777,000 in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Weiss Asset Management LP bought a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,989 shares of the company’s stock, valued at approximately $777,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Reynolds Consumer Products by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock valued at $401,982,000 after acquiring an additional 137,083 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Reynolds Consumer Products by 48.6% in the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock valued at $108,845,000 after purchasing an additional 1,272,353 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Reynolds Consumer Products by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after purchasing an additional 261,513 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Reynolds Consumer Products by 122.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after purchasing an additional 858,419 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Reynolds Consumer Products by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock worth $28,166,000 after buying an additional 66,826 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on REYN shares. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 target price on the stock. Barclays lowered their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Reynolds Consumer Products presently has a consensus rating of “Hold” and a consensus target price of $32.17.

Insiders Place Their Bets

In related news, Director Rolf Stangl bought 7,207 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $27.25 per share, with a total value of $196,390.75. Following the completion of the transaction, the director now directly owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Helen Golding bought 1,190 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $27.58 per share, for a total transaction of $32,820.20. Following the completion of the acquisition, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by insiders.

Reynolds Consumer Products Stock Down 1.2 %

Shares of NASDAQ REYN opened at $27.43 on Monday. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $5.76 billion, a PE ratio of 15.67 and a beta of 0.50. The firm has a fifty day moving average of $28.64 and a 200-day moving average of $29.01. Reynolds Consumer Products Inc. has a 52-week low of $26.16 and a 52-week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced 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). The firm had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. On average, analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.35%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 52.57%.

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.