Hussman Strategic Advisors Inc. Raises Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Hussman Strategic Advisors Inc. increased its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 200.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 126,000 shares of the company's stock after buying an additional 84,000 shares during the quarter. Reynolds Consumer Products comprises approximately 0.7% of Hussman Strategic Advisors Inc.'s portfolio, making the stock its 26th largest position. Hussman Strategic Advisors Inc. owned about 0.06% of Reynolds Consumer Products worth $3,006,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in REYN. Norges Bank acquired a new stake in Reynolds Consumer Products in the 4th quarter valued at approximately $17,964,000. Dimensional Fund Advisors LP lifted its position 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. Ceredex Value Advisors LLC lifted its position in Reynolds Consumer Products by 58.1% in the fourth quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company's stock valued at $12,641,000 after acquiring an additional 172,136 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Reynolds Consumer Products by 842.2% during the first quarter. Victory Capital Management Inc. now owns 183,448 shares of the company's stock worth $4,377,000 after acquiring an additional 163,977 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Reynolds Consumer Products by 950.5% during the first quarter. SG Americas Securities LLC now owns 170,615 shares of the company's stock worth $4,071,000 after acquiring an additional 154,374 shares during the period. Institutional investors and hedge funds own 26.81% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on REYN. Truist Financial lowered their target price on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Barclays lowered their target price on shares of Reynolds Consumer Products from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Royal Bank Of Canada restated 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. Stifel Nicolaus lowered their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $27.67.

Reynolds Consumer Products Trading Down 0.2%

Shares of REYN stock traded down $0.05 during mid-day trading on Friday, reaching $21.90. The company's stock had a trading volume of 42,598 shares, compared to its average volume of 901,027. The company's 50 day simple moving average is $21.94 and its 200-day simple moving average is $23.75. Reynolds Consumer Products Inc. has a 12-month low of $20.91 and a 12-month high of $32.65. The company has a quick ratio of 0.72, a current ratio of 1.80 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.61 billion, a PE ratio of 13.71 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, meeting analysts' consensus estimates 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 net margin of 9.11% and a return on equity of 16.87%. The business's revenue was down 1.8% on a year-over-year basis. During the same period last year, the business 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 Dividend Announcement

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

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 4,500 shares of the firm's stock in a transaction on 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 acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Chris Mayrhofer purchased 18,218 shares of Reynolds Consumer Products stock in a transaction dated Thursday, May 29th. The stock was acquired at an average price of $22.14 per share, for a total transaction of $403,346.52. Following the completion of the transaction, the chief accounting officer owned 18,218 shares in the company, valued at approximately $403,346.52. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 34,766 shares of company stock valued at $765,632. 0.15% of the stock is owned by company insiders.

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.

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