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

GSA Capital Partners LLP purchased a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,957 shares of the company's stock, valued at approximately $1,478,000.

Several other hedge funds have also recently modified their holdings of REYN. Quarry LP grew its stake in shares of Reynolds Consumer Products by 187.0% during the 4th quarter. Quarry LP now owns 2,531 shares of the company's stock worth $68,000 after purchasing an additional 1,649 shares during the period. Versant Capital Management Inc grew its holdings in shares of Reynolds Consumer Products by 38.1% in the 1st quarter. Versant Capital Management Inc now owns 2,543 shares of the company's stock worth $61,000 after acquiring an additional 701 shares during the period. New Age Alpha Advisors LLC purchased a new position in Reynolds Consumer Products in the 4th quarter valued at approximately $165,000. Deutsche Bank AG raised its holdings in Reynolds Consumer Products by 35.8% during the fourth quarter. Deutsche Bank AG now owns 7,247 shares of the company's stock worth $196,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Ariel Investments LLC boosted its position in Reynolds Consumer Products by 6.1% during the fourth quarter. Ariel Investments LLC now owns 7,446 shares of the company's stock worth $201,000 after purchasing an additional 426 shares in the last quarter. 26.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Rolf Stangl purchased 4,500 shares of the stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $21.24 per share, for a total transaction of $95,580.00. Following the acquisition, the director owned 30,889 shares of the company's stock, valued at $656,082.36. The trade was a 17.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Chris Mayrhofer purchased 5,048 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were purchased at an average cost of $21.99 per share, for a total transaction of $111,005.52. Following the completion of the transaction, the chief accounting officer owned 23,266 shares in the company, valued at approximately $511,619.34. This represents a 27.71% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 34,766 shares of company stock valued at $765,632. 0.15% of the stock is owned by corporate insiders.

Reynolds Consumer Products Trading Down 2.0%

REYN stock traded down $0.45 on Friday, hitting $22.04. 1,278,183 shares of the company were exchanged, compared to its average volume of 1,287,150. Reynolds Consumer Products Inc. has a twelve month low of $20.91 and a twelve month high of $32.65. The business's fifty day moving average is $21.76 and its two-hundred day moving average is $23.41. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 14.79 and a beta of 0.58. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.85 and a quick ratio of 0.72.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $938.00 million for the quarter, compared to analyst estimates of $899.05 million. Reynolds Consumer Products had a net margin of 8.44% and a return on equity of 16.00%. The firm's revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. As a group, research analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 15th. Reynolds Consumer Products's payout ratio is currently 61.74%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on REYN shares. Stifel Nicolaus cut their price objective 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. Barclays upped their price objective on Reynolds Consumer Products from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday. Truist Financial decreased their price objective on Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. UBS Group upped their target price on shares of Reynolds Consumer Products from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Canaccord Genuity Group lowered their price target on shares of Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Reynolds Consumer Products presently has a consensus rating of "Hold" and an average target price of $28.00.

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.