Dynamic Technology Lab Private Ltd Purchases Shares of 27,362 Reynolds Consumer Products Inc. (NASDAQ:REYN)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,362 shares of the company’s stock, valued at approximately $851,000.

Several other hedge funds have also recently modified their holdings of REYN. Vanguard Group Inc. grew its position in Reynolds Consumer Products by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock worth $161,739,000 after purchasing an additional 29,838 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Reynolds Consumer Products by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,168 shares of the company’s stock valued at $348,000 after acquiring an additional 1,726 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Reynolds Consumer Products in the 1st quarter worth $252,000. Tidal Investments LLC lifted its position in Reynolds Consumer Products by 83.7% during the 1st quarter. Tidal Investments LLC now owns 29,060 shares of the company’s stock worth $830,000 after acquiring an additional 13,237 shares during the period. Finally, Keynote Financial Services LLC purchased a new stake in Reynolds Consumer Products during the 1st quarter valued at about $439,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Insiders Place Their Bets

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

Reynolds Consumer Products Trading Down 0.4 %

REYN stock opened at $27.64 on Thursday. Reynolds Consumer Products Inc. has a 52-week low of $25.81 and a 52-week high of $32.65. 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 firm has a market cap of $5.81 billion, a P/E ratio of 15.79 and a beta of 0.50. The company’s 50-day simple moving average is $29.13 and its 200-day simple moving average is $29.08.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $910.00 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. As a group, equities analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, November 15th. Reynolds Consumer Products’s payout ratio is presently 52.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on REYN shares. Canaccord Genuity Group upped their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Barclays cut their price objective on shares of 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. raised their target price on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Jefferies Financial Group started coverage on Reynolds Consumer Products in a research report on Thursday, August 29th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.17.

Reynolds Consumer Products Company 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.