GSA Capital Partners LLP Makes New Investment in Reynolds Consumer Products Inc. (NASDAQ:REYN)

GSA Capital Partners LLP purchased a new position in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the first quarter, HoldingsChannel.com reports. The firm purchased 61,957 shares of the company’s stock, valued at approximately $1,478,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ariel Investments LLC increased its position in Reynolds Consumer Products by 6.1% in the fourth quarter. Ariel Investments LLC now owns 7,446 shares of the company’s stock worth $201,000 after buying an additional 426 shares in the last quarter. Versant Capital Management Inc increased its position in Reynolds Consumer Products by 38.1% in the first quarter. Versant Capital Management Inc now owns 2,543 shares of the company’s stock worth $61,000 after buying an additional 701 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Reynolds Consumer Products by 21.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,142 shares of the company’s stock worth $247,000 after buying an additional 1,643 shares in the last quarter. Quarry LP increased its position in Reynolds Consumer Products by 187.0% in the fourth quarter. Quarry LP now owns 2,531 shares of the company’s stock worth $68,000 after buying an additional 1,649 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in Reynolds Consumer Products by 4.6% in the fourth quarter. Voya Investment Management LLC now owns 43,462 shares of the company’s stock worth $1,173,000 after buying an additional 1,907 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Insider Activity at Reynolds Consumer Products

In related news, CAO Chris Mayrhofer acquired 5,048 shares of the stock in a transaction dated Friday, May 30th. The stock was acquired at an average cost of $21.99 per share, with a total value of $111,005.52. Following the purchase, the chief accounting officer directly owned 23,266 shares of the company’s stock, valued at approximately $511,619.34. This trade represents a 27.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rolf Stangl acquired 4,500 shares of the stock in a transaction dated Friday, June 20th. The stock was bought at an average cost of $21.24 per share, with a total value of $95,580.00. Following the completion of the purchase, the director directly owned 30,889 shares in the company, valued at approximately $656,082.36. The trade was a 17.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 34,766 shares of company stock valued at $765,632 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Reynolds Consumer Products Stock Performance

NASDAQ REYN opened at $21.56 on Wednesday. The stock has a market capitalization of $4.53 billion, a PE ratio of 13.48 and a beta of 0.57. Reynolds Consumer Products Inc. has a 1-year low of $20.91 and a 1-year high of $32.65. The business has a 50 day simple moving average of $21.75 and a two-hundred day simple moving average of $23.48. 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 posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $821.99 million. Reynolds Consumer Products had a return on equity of 16.87% and a net margin of 9.11%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. On average, research analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, August 15th. Reynolds Consumer Products’s payout ratio is 57.50%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on REYN. Royal Bank Of Canada reiterated a “sector perform” rating and set a $30.00 target price on shares of Reynolds Consumer Products in a research report on Monday, April 28th. Barclays cut their target price on Reynolds Consumer Products from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 15th. UBS Group cut their target price on Reynolds Consumer Products from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. Stifel Nicolaus cut their target price on Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Wall Street Zen upgraded Reynolds Consumer Products from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and a consensus target price of $27.67.

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.