Cerity Partners LLC Has $705,000 Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Cerity Partners LLC boosted its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,682 shares of the company’s stock after purchasing an additional 1,457 shares during the period. Cerity Partners LLC’s holdings in Reynolds Consumer Products were worth $705,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in shares of 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 buying an additional 1,272,353 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Reynolds Consumer Products by 122.7% in the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock valued at $43,588,000 after acquiring an additional 858,419 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Reynolds Consumer Products by 17.2% during 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 during the period. Beacon Harbor Wealth Advisors Inc. bought a new position in Reynolds Consumer Products during the 3rd quarter worth approximately $5,731,000. Finally, American Century Companies Inc. lifted its position in shares of Reynolds Consumer Products by 188.8% in the 2nd quarter. American Century Companies Inc. now owns 280,137 shares of the company’s stock worth $7,838,000 after purchasing an additional 183,125 shares during the period. 26.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Helen Golding acquired 1,190 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now owns 1,190 shares in the company, valued at $32,820.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rolf Stangl acquired 7,207 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the acquisition, 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. Insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Stock Performance

Shares of REYN stock opened at $27.43 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89. The firm has a 50-day moving average of $28.72 and a 200-day moving average of $29.02. Reynolds Consumer Products Inc. has a one year low of $26.16 and a one year high of $32.65. The company has a market cap of $5.76 billion, a P/E ratio of 15.67 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last released its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same period in the prior year, the company earned $0.37 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. Equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio is currently 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.