Dynamic Technology Lab Private Ltd Trims Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Dynamic Technology Lab Private Ltd reduced its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 72.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,515 shares of the company's stock after selling 19,847 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Reynolds Consumer Products were worth $203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Reynolds Consumer Products in the 4th quarter valued at about $17,964,000. Allspring Global Investments Holdings LLC grew its stake in shares of Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company's stock worth $351,564,000 after purchasing an additional 182,353 shares during the period. Jane Street Group LLC increased its holdings in shares of Reynolds Consumer Products by 758.9% during the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company's stock valued at $5,216,000 after purchasing an additional 148,194 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Reynolds Consumer Products by 13.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company's stock worth $32,707,000 after buying an additional 139,576 shares in the last quarter. Finally, ExodusPoint Capital Management LP increased its holdings in Reynolds Consumer Products by 143.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 203,290 shares of the company's stock valued at $5,487,000 after buying an additional 119,911 shares in the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $32.00 price objective on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Stifel Nicolaus cut their price objective on Reynolds Consumer Products from $31.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Barclays lowered their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on Reynolds Consumer Products from $26.00 to $24.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $29.38.

Reynolds Consumer Products Trading Up 1.7 %

REYN traded up $0.40 during trading hours on Thursday, reaching $23.50. The company's stock had a trading volume of 133,631 shares, compared to its average volume of 600,407. The stock has a market cap of $4.94 billion, a PE ratio of 13.98 and a beta of 0.64. Reynolds Consumer Products Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $32.65. 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 business's 50-day moving average is $23.87 and its 200-day moving average is $26.54.

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

Reynolds Consumer Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.91%. Reynolds Consumer Products's dividend payout ratio is currently 54.76%.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl bought 6,000 shares of Reynolds Consumer Products stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $24.89 per share, for a total transaction of $149,340.00. Following the acquisition, the director now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.

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.