Brandywine Global Investment Management LLC Takes Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Brandywine Global Investment Management LLC bought a new stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 59,848 shares of the company's stock, valued at approximately $1,615,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Reynolds Consumer Products by 4.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company's stock worth $363,000 after acquiring an additional 566 shares in the last quarter. Barclays PLC raised its stake in Reynolds Consumer Products by 173.9% during the third quarter. Barclays PLC now owns 63,121 shares of the company's stock valued at $1,963,000 after purchasing an additional 40,075 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Reynolds Consumer Products during the third quarter valued at $4,397,000. Proficio Capital Partners LLC bought a new position in Reynolds Consumer Products during the fourth quarter valued at $424,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Reynolds Consumer Products by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company's stock worth $15,976,000 after buying an additional 19,044 shares in the last quarter. 26.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rolf Stangl acquired 6,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the completion of the acquisition, the director now directly owns 16,889 shares of the company's stock, valued at $420,367.21. The trade was a 55.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group lowered their price target on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a research note on Monday, February 3rd. Barclays cut their target price on 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. Canaccord Genuity Group lowered their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price objective on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $30.38.

Reynolds Consumer Products Trading Down 3.9 %

REYN stock traded down $0.94 during midday trading on Monday, reaching $22.99. The company's stock had a trading volume of 1,502,249 shares, compared to its average volume of 592,476. The stock has a fifty day simple moving average of $24.54 and a two-hundred day simple moving average of $26.94. 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 firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 13.68 and a beta of 0.64. Reynolds Consumer Products Inc. has a 1 year low of $22.83 and a 1 year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced 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, equities research analysts predict that Reynolds Consumer Products Inc. will post 1.66 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Friday, February 14th. Reynolds Consumer Products's dividend payout ratio (DPR) is presently 54.76%.

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.