Tower Research Capital LLC TRC Buys 13,587 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Tower Research Capital LLC TRC lifted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 335.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,643 shares of the company's stock after purchasing an additional 13,587 shares during the quarter. Tower Research Capital LLC TRC's holdings in Reynolds Consumer Products were worth $476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Trust Inc. lifted its position in Reynolds Consumer Products by 115.2% during the fourth 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 last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products during the 4th quarter worth $40,000. Farther Finance Advisors LLC grew its position in Reynolds Consumer Products by 667.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company's stock worth $70,000 after acquiring an additional 2,248 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Reynolds Consumer Products by 36.0% in the fourth quarter. Venturi Wealth Management LLC now owns 3,482 shares of the company's stock valued at $94,000 after acquiring an additional 921 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Reynolds Consumer Products during the fourth quarter valued at about $165,000. Hedge funds and other institutional investors own 26.81% of the company's stock.

Insiders Place Their Bets

In other news, Director Rolf Stangl purchased 6,000 shares of Reynolds Consumer Products stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $24.89 per share, with a total value of $149,340.00. Following the completion of the transaction, the director now directly owns 16,889 shares of the company's stock, valued at approximately $420,367.21. The trade was a 55.10 % 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 hyperlink. Corporate insiders own 0.15% of the company's stock.

Reynolds Consumer Products Stock Up 0.5 %

Shares of Reynolds Consumer Products stock traded up $0.12 during trading on Monday, hitting $23.43. The company's stock had a trading volume of 79,586 shares, compared to its average volume of 615,211. Reynolds Consumer Products Inc. has a 52 week low of $21.90 and a 52 week high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The company has a fifty day simple moving average of $23.65 and a two-hundred day simple moving average of $25.92. The company has a market capitalization of $4.93 billion, a PE ratio of 13.95 and a beta of 0.61.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $821.99 million. During the same period last year, the business earned $0.23 earnings per share. The business's revenue was down 1.8% on a year-over-year basis. Equities research analysts predict that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.93%. The ex-dividend date is Friday, May 16th. Reynolds Consumer Products's dividend payout ratio (DPR) is 57.50%.

Analysts Set New Price Targets

REYN has been the topic of several analyst reports. 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 report on Thursday, April 24th. Canaccord Genuity Group cut their target price on Reynolds Consumer Products from $27.00 to $26.00 and set a "hold" rating on the stock in a research note on Thursday. UBS Group reduced their target price on Reynolds Consumer Products from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday. Evercore ISI dropped their price target on Reynolds Consumer Products from $33.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Finally, Stifel Nicolaus cut their price target on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.