Quantinno Capital Management LP Increases Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Quantinno Capital Management LP raised its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) by 163.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 117,015 shares of the company's stock after acquiring an additional 72,652 shares during the period. Quantinno Capital Management LP owned approximately 0.06% of Reynolds Consumer Products worth $3,639,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Reynolds Consumer Products by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company's stock worth $401,982,000 after acquiring an additional 137,083 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Reynolds Consumer Products by 48.6% in the 2nd quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock valued at $108,845,000 after purchasing an additional 1,272,353 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Reynolds Consumer Products by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock worth $49,859,000 after purchasing an additional 261,513 shares during the period. AQR Capital Management LLC increased its position in shares of Reynolds Consumer Products by 122.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company's stock worth $43,588,000 after purchasing an additional 858,419 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Reynolds Consumer Products by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company's stock valued at $28,166,000 after buying an additional 66,826 shares during the period. 26.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They set a "buy" rating and a $38.00 price target for the company. Barclays dropped their target price on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating for the company in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $32.17.

Insider Buying and Selling at Reynolds Consumer Products

In other news, Director Helen Golding bought 1,190 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, with a total value of $32,820.20. Following the transaction, the director now directly owns 1,190 shares in the company, valued at $32,820.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rolf Stangl purchased 7,207 shares of the business's stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the transaction, the director now owns 7,207 shares of the company's stock, valued at $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by insiders.

Reynolds Consumer Products Stock Up 1.3 %

NASDAQ:REYN traded up $0.35 during midday trading on Monday, reaching $27.78. The company had a trading volume of 497,111 shares, compared to its average volume of 572,632. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Reynolds Consumer Products Inc. has a 12-month low of $26.16 and a 12-month high of $32.65. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 15.89 and a beta of 0.50. The stock's fifty day simple moving average is $28.64 and its 200-day simple moving average is $29.01.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $910.00 million during the quarter, compared to analysts' expectations of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, November 15th. Reynolds Consumer Products's dividend payout ratio (DPR) is 52.57%.

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.