Reynolds Consumer Products Inc. (NASDAQ:REYN) Declares $0.23 Quarterly Dividend

Reynolds Consumer Products Inc. (NASDAQ:REYN) announced a quarterly dividend on Thursday, January 29th. Shareholders of record on Friday, February 13th will be paid a dividend of 0.23 per share on Friday, February 27th. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, February 13th.

Reynolds Consumer Products has a payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Reynolds Consumer Products to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 52.9%.

Reynolds Consumer Products Stock Performance

Shares of REYN traded up $0.18 during mid-day trading on Friday, hitting $22.84. 148,620 shares of the company’s stock were exchanged, compared to its average volume of 814,647. The company has a quick ratio of 0.80, a current ratio of 1.94 and a debt-to-equity ratio of 0.74. Reynolds Consumer Products has a 52 week low of $20.91 and a 52 week high of $28.22. The stock’s 50-day simple moving average is $23.83 and its 200-day simple moving average is $23.50. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 15.60 and a beta of 0.57.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $931.00 million for the quarter, compared to analyst estimates of $900.12 million. Reynolds Consumer Products had a return on equity of 15.88% and a net margin of 8.20%.The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, equities research analysts expect that Reynolds Consumer Products will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of REYN. Comerica Bank increased its holdings in shares of Reynolds Consumer Products by 33.3% in the fourth quarter. Comerica Bank now owns 72,814 shares of the company’s stock worth $1,669,000 after purchasing an additional 18,191 shares during the period. Inscription Capital LLC purchased a new position in shares of Reynolds Consumer Products in the 4th quarter worth about $362,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Reynolds Consumer Products by 1,257.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 13,573 shares of the company’s stock valued at $311,000 after purchasing an additional 12,573 shares during the last quarter. HB Wealth Management LLC bought a new stake in Reynolds Consumer Products in the 4th quarter worth approximately $357,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Reynolds Consumer Products by 13.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,283 shares of the company’s stock worth $304,000 after buying an additional 1,558 shares in the last quarter. 26.81% of the stock is owned by institutional investors.

About Reynolds Consumer Products

Reynolds Consumer Products, Inc (NASDAQ: REYN) is a leading North American manufacturer and marketer of household consumer products. The company specializes in food storage and cooking solutions, including aluminum foil, plastic wrap, food storage containers and disposable tableware. Its core portfolio features well-known brands such as Reynolds Wrap aluminum foil, Hefty storage containers and trash bags, and Fastfold paper plates.

The company operates through a network of manufacturing and distribution facilities across North America, Latin America, Europe and the Asia Pacific region.