Rhumbline Advisers Raises Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Rhumbline Advisers raised its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 18.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,147 shares of the company’s stock after buying an additional 10,987 shares during the period. Rhumbline Advisers’ holdings in Reynolds Consumer Products were worth $1,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 worth $27,000 after purchasing an additional 801 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Reynolds Consumer Products during the 2nd quarter worth $39,000. Quadrant Capital Group LLC lifted its position in shares of Reynolds Consumer Products by 97.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company’s stock worth $52,000 after purchasing an additional 960 shares during the last quarter. Principal Securities Inc. purchased a new stake in Reynolds Consumer Products in the fourth quarter valued at $61,000. Finally, Parallel Advisors LLC lifted its position in Reynolds Consumer Products by 26.9% in the fourth quarter. Parallel Advisors LLC now owns 2,288 shares of the company’s stock valued at $61,000 after acquiring an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Trading Up 2.7 %

NASDAQ REYN opened at $32.17 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.01 and a current ratio of 2.13. The firm has a market cap of $6.76 billion, a PE ratio of 20.49 and a beta of 0.48. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $32.65. The firm’s fifty day moving average is $29.93 and its two-hundred day moving average is $28.92.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Reynolds Consumer Products had a net margin of 9.74% and a return on equity of 18.27%. The business had revenue of $930.00 million for the quarter, compared to analyst estimates of $890.71 million. During the same period in the previous year, the business posted $0.32 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. Analysts expect that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.86%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 58.60%.

Wall Street Analyst Weigh In

REYN has been the subject of a number of research reports. Canaccord Genuity Group boosted their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price target on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays boosted their price target on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.00.

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.