Atria Investments Inc Has $351,000 Stake in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Atria Investments Inc boosted its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 16.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,286 shares of the company’s stock after acquiring an additional 1,565 shares during the period. Atria Investments Inc’s holdings in Reynolds Consumer Products were worth $351,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Reynolds Consumer Products by 510.2% during the second quarter. GAMMA Investing LLC now owns 958 shares of the company’s stock worth $27,000 after purchasing an additional 801 shares during the last quarter. Versant Capital Management Inc acquired a new position in Reynolds Consumer Products in the 2nd quarter valued at approximately $39,000. Abich Financial Wealth Management LLC bought a new stake in shares of Reynolds Consumer Products in the second quarter worth $54,000. Capital Performance Advisors LLP bought a new position in Reynolds Consumer Products during the 3rd quarter worth $70,000. Finally, nVerses Capital LLC acquired a new stake in shares of Reynolds Consumer Products in the second quarter valued at about $90,000. 26.81% of the stock is currently owned by institutional investors.

Insider Activity

In other Reynolds Consumer Products news, Director Helen Golding purchased 1,190 shares of the 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 transaction, the director now directly owns 1,190 shares of the company’s stock, valued at approximately $32,820.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rolf Stangl purchased 7,207 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the acquisition, 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

REYN has been the subject of several analyst reports. Canaccord Genuity Group raised their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Royal Bank of Canada upped their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” 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 on the stock. Finally, Barclays reduced 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.17.

Reynolds Consumer Products Stock Performance

Shares of REYN opened at $27.61 on Friday. The stock has a 50 day moving average of $29.44 and a 200 day moving average of $29.11. 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 company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 15.78 and a beta of 0.50. Reynolds Consumer Products Inc. has a 12 month low of $25.80 and a 12 month high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its 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). The business had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. Reynolds Consumer Products had a return on equity of 18.27% and a net margin of 10.03%. Reynolds Consumer Products’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, sell-side analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, November 15th. Reynolds Consumer Products’s payout ratio is currently 52.57%.

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.