Hussman Strategic Advisors Inc. Purchases New Shares in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Hussman Strategic Advisors Inc. acquired a new stake in Reynolds Consumer Products Inc. (NASDAQ:REYN) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 42,000 shares of the company’s stock, valued at approximately $1,134,000.

Several other hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Reynolds Consumer Products by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock valued at $351,564,000 after acquiring an additional 182,353 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Reynolds Consumer Products by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,862 shares of the company’s stock valued at $17,816,000 after acquiring an additional 6,065 shares during the last quarter. Verition Fund Management LLC bought a new position in Reynolds Consumer Products in the 3rd quarter valued at $12,844,000. Olstein Capital Management L.P. grew its position in Reynolds Consumer Products by 43.3% in the 4th quarter. Olstein Capital Management L.P. now owns 237,000 shares of the company’s stock valued at $6,397,000 after acquiring an additional 71,624 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in Reynolds Consumer Products in the 3rd quarter valued at $5,731,000. Institutional investors own 26.81% of the company’s stock.

Insider Activity at Reynolds Consumer Products

In related news, Director Rolf Stangl acquired 3,682 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $27.50 per share, with a total value of $101,255.00. Following the completion of the transaction, the director now directly owns 10,889 shares in the company, valued at $299,447.50. This trade represents a 51.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on REYN shares. UBS Group cut their price objective on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays cut their price objective 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 dropped their price target on Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Stifel Nicolaus dropped their price target on Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Price Performance

REYN opened at $24.12 on Friday. Reynolds Consumer Products Inc. has a 12-month low of $23.61 and a 12-month high of $32.65. The business’s fifty day simple moving average is $26.55 and its 200-day simple moving average is $28.55. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 14.36 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

Reynolds Consumer Products (NASDAQ:REYN) last issued 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 return on equity of 17.14% and a net margin of 9.56%. On average, equities research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, February 14th. Reynolds Consumer Products’s payout ratio is currently 54.76%.

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.