Reynolds Consumer Products (NASDAQ:REYN) Reaches New 12-Month Low – Here’s What Happened

Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) reached a new 52-week low during trading on Friday . The company 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.

Wall Street Analysts Forecast Growth

Separately, Barclays reduced their price target 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.17.

Reynolds Consumer Products Stock Down 0.9 %

The stock has a market capitalization of $5.59 billion, a P/E ratio of 15.19 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 firm has a 50-day simple moving average of $27.60 and a 200 day simple moving average of $28.90.

Reynolds Consumer Products (NASDAQ:REYN) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share 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 the consensus estimate of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share. On average, equities research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.46%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio is currently 52.57%.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 7,207 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the transaction, the director now owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Helen Golding bought 1,190 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the purchase, the director now directly owns 1,190 shares of the company’s stock, valued at $32,820.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 12,079 shares of company stock worth $330,466. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Reynolds Consumer Products

A number of hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new stake in Reynolds Consumer Products in the third quarter valued at $29,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Reynolds Consumer Products in the 2nd quarter valued at about $54,000. Capital Performance Advisors LLP bought a new stake in Reynolds Consumer Products in the 3rd quarter valued at about $70,000. Venturi Wealth Management LLC raised its stake in Reynolds Consumer Products by 93.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock worth $80,000 after buying an additional 1,239 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Reynolds Consumer Products in the third quarter worth approximately $90,000. 26.81% of the stock is currently owned by institutional investors.

About Reynolds Consumer Products

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.