Lazard Asset Management LLC Reduces Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Lazard Asset Management LLC lessened its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 94.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,558 shares of the company's stock after selling 58,347 shares during the quarter. Lazard Asset Management LLC's holdings in Reynolds Consumer Products were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of REYN. Blue Trust Inc. raised its position in shares of Reynolds Consumer Products by 115.2% during the 4th quarter. Blue Trust Inc. now owns 1,304 shares of the company's stock valued at $35,000 after purchasing an additional 698 shares during the period. Quarry LP raised its position 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 valued at $68,000 after purchasing an additional 1,649 shares during the period. Farther Finance Advisors LLC raised its position in shares of Reynolds Consumer Products by 667.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock valued at $70,000 after purchasing an additional 2,248 shares during the period. Venturi Wealth Management LLC raised its position in shares of Reynolds Consumer Products by 36.0% during the 4th quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock valued at $94,000 after purchasing an additional 921 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Reynolds Consumer Products during the 4th quarter valued at $165,000. Hedge funds and other institutional investors own 26.81% of the company's stock.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl bought 2,500 shares of Reynolds Consumer Products stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $23.22 per share, for a total transaction of $58,050.00. Following the acquisition, the director now directly owns 19,389 shares in the company, valued at approximately $450,212.58. This represents a 14.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.15% of the company's stock.

Reynolds Consumer Products Price Performance

NASDAQ REYN traded up $0.11 on Thursday, reaching $22.16. The company had a trading volume of 62,076 shares, compared to its average volume of 634,880. The company has a quick ratio of 0.99, a current ratio of 2.04 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $4.66 billion, a PE ratio of 13.18 and a beta of 0.61. The firm's 50 day moving average price is $23.23 and its 200 day moving average price is $25.24. Reynolds Consumer Products Inc. has a 12 month low of $21.63 and a 12 month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $821.99 million. During the same period in the previous year, the firm posted $0.23 EPS. The business's quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.15%. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 57.50%.

Wall Street Analyst Weigh In

REYN has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective 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. Barclays decreased their price objective on shares of Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Truist Financial reduced their price target on shares of Reynolds Consumer Products from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Evercore ISI reduced their price target on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $28.33.

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.