Reynolds Consumer Products (NASDAQ:REYN) Reaches New 12-Month Low - Here's What Happened

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $23.00 and last traded at $23.36, with a volume of 63594 shares. The stock had previously closed at $23.93.

Analyst Upgrades and Downgrades

REYN has been the topic of a number of research analyst reports. Barclays reduced their target price on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating on the stock in a research note on Friday. Evercore ISI lowered their price objective 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. Stifel Nicolaus dropped 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 report on Thursday. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $32.00 price target on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $29.38.

Reynolds Consumer Products Price Performance

The firm has a fifty day moving average price of $23.99 and a two-hundred day moving average price of $26.66. 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 $5.03 billion, a P/E ratio of 14.23 and a beta of 0.64.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.58 earnings per share for the quarter, meeting analysts' consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. On average, analysts expect that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.23 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.85%. Reynolds Consumer Products's payout ratio is currently 54.76%.

Insider Buying and Selling at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl bought 6,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was acquired 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. This represents a 55.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company's stock.

Institutional Trading of Reynolds Consumer Products

A number of institutional investors have recently made changes to their positions in REYN. Norges Bank bought a new position in Reynolds Consumer Products during the fourth quarter valued at approximately $17,964,000. Dimensional Fund Advisors LP lifted its holdings in shares of Reynolds Consumer Products by 13.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company's stock valued at $63,586,000 after buying an additional 275,601 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock worth $351,564,000 after buying an additional 182,353 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of Reynolds Consumer Products by 58.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 468,360 shares of the company's stock worth $12,641,000 after buying an additional 172,136 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Reynolds Consumer Products by 758.9% in the third quarter. Jane Street Group LLC now owns 167,722 shares of the company's stock worth $5,216,000 after acquiring an additional 148,194 shares during the period. Hedge funds and other institutional investors own 26.81% of the company's stock.

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.