Reynolds Consumer Products (NASDAQ:REYN) Sets New 52-Week Low – Here’s What Happened

Reynolds Consumer Products Inc. (NASDAQ:REYN) hit a new 52-week low during trading on Friday . The stock traded as low as $26.49 and last traded at $26.59, with a volume of 229818 shares. The stock had previously closed at $26.82.

Analyst Upgrades and Downgrades

Separately, Barclays decreased their price target on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.17.

Reynolds Consumer Products Stock Down 0.8 %

The company has a market cap of $5.59 billion, a PE ratio of 15.21 and a beta of 0.50. 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 company has a fifty day moving average price of $27.66 and a 200 day moving average price of $28.91.

Reynolds Consumer Products (NASDAQ:REYN) last announced 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 return on equity of 18.27% and a net margin of 10.03%. The company had revenue of $910.00 million during the quarter, compared to analysts’ expectations of $902.88 million. During the same quarter last year, the firm posted $0.37 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors 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 3.46%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products’s payout ratio is presently 52.57%.

Insiders Place Their Bets

In other news, Director Helen Golding acquired 1,190 shares of the stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the completion of the purchase, the director now owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rolf Stangl bought 7,207 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired 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 of the company’s stock, valued at $196,390.75. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 12,079 shares of company stock valued at $330,466 over the last three months. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in REYN. Allspring Global Investments Holdings LLC lifted its stake in shares of Reynolds Consumer Products by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock valued at $401,982,000 after purchasing an additional 137,083 shares during the period. Pacer Advisors Inc. lifted its position in Reynolds Consumer Products by 48.6% during the second 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 period. Dimensional Fund Advisors LP lifted its position in Reynolds Consumer Products by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after buying an additional 261,513 shares during the period. AQR Capital Management LLC boosted its holdings 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 valued at $43,588,000 after buying an additional 858,419 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Reynolds Consumer Products by 7.1% in the 2nd 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 during the period. 26.81% of the stock is currently owned by institutional investors.

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.