Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. lifted its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 200.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,000 shares of the company’s stock after acquiring an additional 84,000 shares during the period. Reynolds Consumer Products comprises approximately 0.7% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 26th largest position. Hussman Strategic Advisors Inc.’s holdings in Reynolds Consumer Products were worth $3,006,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in REYN. Vanguard Group Inc. boosted its holdings in shares of Reynolds Consumer Products by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 5,843,058 shares of the company’s stock worth $157,704,000 after purchasing an additional 17,756 shares during the period. Dimensional Fund Advisors LP lifted its stake in Reynolds Consumer Products by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company’s stock valued at $63,586,000 after acquiring an additional 275,601 shares during the last quarter. Geode Capital Management LLC lifted its stake in Reynolds Consumer Products by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,072,422 shares of the company’s stock valued at $28,953,000 after acquiring an additional 26,664 shares during the last quarter. Sei Investments Co. lifted its stake in Reynolds Consumer Products by 13.7% in the fourth quarter. Sei Investments Co. now owns 766,463 shares of the company’s stock valued at $20,687,000 after acquiring an additional 92,473 shares during the last quarter. Finally, Norges Bank acquired a new stake in Reynolds Consumer Products in the fourth quarter valued at approximately $17,964,000. 26.81% of the stock is owned by hedge funds and other institutional investors.

Reynolds Consumer Products Price Performance

Shares of REYN stock traded down $0.05 during trading hours on Friday, reaching $21.90. 42,598 shares of the company were exchanged, compared to its average volume of 901,027. Reynolds Consumer Products Inc. has a fifty-two week low of $20.91 and a fifty-two week high of $32.65. The stock’s fifty day moving average is $21.94 and its two-hundred day moving average is $23.75. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 13.71 and a beta of 0.57. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.80 and a quick ratio of 0.72.

Reynolds Consumer Products (NASDAQ:REYN) last announced its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.11% and a return on equity of 16.87%. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $821.99 million. During the same period in the prior year, the business earned $0.23 earnings per share. Reynolds Consumer Products’s quarterly revenue was down 1.8% on a year-over-year basis. Sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Friday, May 16th. Reynolds Consumer Products’s payout ratio is currently 57.50%.

Insider Buying and Selling

In related news, CAO Chris Mayrhofer purchased 18,218 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were purchased at an average price of $22.14 per share, with a total value of $403,346.52. Following the completion of the purchase, the chief accounting officer owned 18,218 shares in the company, valued at $403,346.52. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rolf Stangl purchased 4,500 shares of the business’s stock in a transaction on Friday, June 20th. The stock was bought at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the purchase, the director owned 30,889 shares of the company’s stock, valued at approximately $656,082.36. This represents a 17.05% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 34,766 shares of company stock worth $765,632. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on REYN shares. Truist Financial reduced their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barclays reduced their price objective on shares of Reynolds Consumer Products from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Tuesday. Canaccord Genuity Group reduced their price objective on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Finally, Stifel Nicolaus reduced their price objective on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.67.

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.