Reynolds Consumer Products Inc. (NASDAQ:REYN) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 69.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,928 shares of the company’s stock after selling 6,687 shares during the quarter. Amalgamated Bank’s holdings in Reynolds Consumer Products were worth $91,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of REYN. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Reynolds Consumer Products during the 1st quarter worth about $232,000. Vanguard Group Inc. grew its holdings in shares of Reynolds Consumer Products by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,663,147 shares of the company’s stock worth $161,739,000 after purchasing an additional 29,838 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Reynolds Consumer Products by 994.7% during the 1st quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock worth $6,068,000 after purchasing an additional 193,265 shares during the period. Covestor Ltd grew its holdings in shares of Reynolds Consumer Products by 15.8% during the 1st quarter. Covestor Ltd now owns 3,520 shares of the company’s stock worth $101,000 after purchasing an additional 480 shares during the period. Finally, Ariel Investments LLC grew its holdings in shares of Reynolds Consumer Products by 7.0% during the 1st quarter. Ariel Investments LLC now owns 7,136 shares of the company’s stock worth $204,000 after purchasing an additional 466 shares during the period. Institutional investors and hedge funds own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock opened at $27.23 on Monday. The stock has a market cap of $5.72 billion, a P/E ratio of 15.56 and a beta of 0.50. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average of $29.79 and a 200-day moving average of $29.14. Reynolds Consumer Products Inc. has a 52 week low of $25.80 and a 52 week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last released 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 for 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 quarter last year, the company posted $0.37 earnings per share. On average, analysts expect that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, November 15th. Reynolds Consumer Products’s dividend payout ratio (DPR) is currently 52.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on REYN. Canaccord Genuity Group boosted their target price on Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Barclays decreased their target price on 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. Royal Bank of Canada upped their price target on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Jefferies Financial Group started coverage on Reynolds Consumer Products in a report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Reynolds Consumer Products has a consensus rating of “Hold” and an average target price of $32.17.

Insider Activity

In other news, Director Rolf Stangl purchased 7,207 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $27.25 per share, with a total value of $196,390.75. Following the transaction, the director now owns 7,207 shares in the company, valued at approximately $196,390.75. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.