Acadian Asset Management LLC Buys 133,002 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

Acadian Asset Management LLC grew its position in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 62.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 345,696 shares of the company's stock after acquiring an additional 133,002 shares during the quarter. Acadian Asset Management LLC owned 0.16% of Reynolds Consumer Products worth $9,662,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Reynolds Consumer Products by 510.2% during the 2nd quarter. GAMMA Investing LLC now owns 958 shares of the company's stock worth $27,000 after buying an additional 801 shares during the period. Versant Capital Management Inc bought a new position in shares of Reynolds Consumer Products in the second quarter valued at approximately $39,000. Quadrant Capital Group LLC boosted its holdings in shares of Reynolds Consumer Products by 97.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,948 shares of the company's stock worth $52,000 after acquiring an additional 960 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Reynolds Consumer Products in the 4th quarter worth approximately $61,000. Finally, Parallel Advisors LLC increased its holdings in Reynolds Consumer Products by 26.9% during the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the company's stock valued at $61,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 26.81% of the company's stock.

Reynolds Consumer Products Trading Down 1.5 %

Shares of NASDAQ REYN traded down $0.49 during mid-day trading on Wednesday, hitting $31.63. The company's stock had a trading volume of 332,308 shares, compared to its average volume of 531,920. Reynolds Consumer Products Inc. has a one year low of $24.80 and a one year high of $32.65. The company's fifty day simple moving average is $29.27 and its 200-day simple moving average is $28.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 1.01. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 20.15 and a beta of 0.48.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 9.74%. The company had revenue of $930.00 million during the quarter, compared to analyst estimates of $890.71 million. During the same period in the previous year, the company earned $0.32 EPS. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Friday, August 16th. Reynolds Consumer Products's payout ratio is presently 58.60%.

Analyst Ratings Changes

A number of equities analysts have commented on REYN shares. Jefferies Financial Group assumed coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective on the stock. Canaccord Genuity Group increased their price objective on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a "hold" rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their target price on shares of Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 8th. Barclays upped their target price on shares of Reynolds Consumer Products from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.00.

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.