Pinebridge Investments L.P. Trims Stock Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Pinebridge Investments L.P. trimmed its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 81.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,518 shares of the company's stock after selling 40,651 shares during the period. Pinebridge Investments L.P.'s holdings in Reynolds Consumer Products were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REYN. Susquehanna International Group LLP increased its holdings in shares of Reynolds Consumer Products by 246.4% in the fourth quarter. Susquehanna International Group LLP now owns 155,355 shares of the company's stock valued at $4,193,000 after purchasing an additional 110,503 shares during the period. Stifel Financial Corp raised its position in Reynolds Consumer Products by 65.0% during the 4th quarter. Stifel Financial Corp now owns 153,845 shares of the company's stock worth $4,152,000 after buying an additional 60,616 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Reynolds Consumer Products by 335.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,643 shares of the company's stock valued at $476,000 after acquiring an additional 13,587 shares during the period. MML Investors Services LLC boosted its holdings in shares of Reynolds Consumer Products by 10.3% in the 4th quarter. MML Investors Services LLC now owns 53,736 shares of the company's stock valued at $1,450,000 after acquiring an additional 5,036 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Reynolds Consumer Products in the fourth quarter worth $1,256,000. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Price Performance

Reynolds Consumer Products stock traded up $0.48 during midday trading on Friday, reaching $23.31. The company had a trading volume of 823,736 shares, compared to its average volume of 617,307. Reynolds Consumer Products Inc. has a 12-month low of $21.90 and a 12-month high of $32.65. The firm's fifty day simple moving average is $23.65 and its 200-day simple moving average is $25.92. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. The company has a market capitalization of $4.90 billion, a P/E ratio of 13.88 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $801.00 million during the quarter, compared to analysts' expectations of $821.99 million. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. As a group, equities analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS 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. Shareholders of record on Friday, May 16th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is 57.50%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Evercore ISI reduced their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Truist Financial cut 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 report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target 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 for the company in a research report on Thursday, February 6th. Finally, 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.33.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 6,000 shares of the stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $24.89 per share, with a total value of $149,340.00. Following the transaction, the director now owns 16,889 shares in the company, valued at $420,367.21. The trade was a 55.10 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company's stock.

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.