24,989 Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN) Acquired by Weiss Asset Management LP

Weiss Asset Management LP purchased a new position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 24,989 shares of the company's stock, valued at approximately $777,000.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake 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 valued at $401,982,000 after purchasing an additional 137,083 shares during the period. Pacer Advisors Inc. raised its position in shares of Reynolds Consumer Products by 48.6% in the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company's stock valued at $108,845,000 after buying an additional 1,272,353 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Reynolds Consumer Products by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company's stock valued at $49,859,000 after buying an additional 261,513 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Reynolds Consumer Products by 122.7% in the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company's stock valued at $43,588,000 after buying an additional 858,419 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Reynolds Consumer Products by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company's stock worth $28,166,000 after purchasing an additional 66,826 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company's stock.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ:REYN traded up $0.35 during trading on Monday, reaching $27.78. The stock had a trading volume of 497,111 shares, compared to its average volume of 572,738. Reynolds Consumer Products Inc. has a 52 week low of $26.16 and a 52 week 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 company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $28.64 and a two-hundred day simple moving average of $29.01.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. The business had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm's quarterly revenue was down 2.7% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.31%. Reynolds Consumer Products's payout ratio is presently 52.57%.

Insider Activity at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Helen Golding purchased 1,190 shares of the business's stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $27.58 per share, with a total value of $32,820.20. Following the acquisition, the director now directly owns 1,190 shares of the company's stock, valued at $32,820.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rolf Stangl purchased 7,207 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $27.25 per share, with a total value of $196,390.75. Following the purchase, the director now owns 7,207 shares of the company's stock, valued at $196,390.75. This 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 corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on REYN. Barclays dropped their price target on shares of Reynolds Consumer Products from $29.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group started coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a "buy" rating and a $38.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.17.

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.