Martingale Asset Management L P Has $2.35 Million Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Martingale Asset Management L P lifted its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,475 shares of the company’s stock after acquiring an additional 5,276 shares during the quarter. Martingale Asset Management L P’s holdings in Reynolds Consumer Products were worth $2,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of REYN. Pacer Advisors Inc. grew its holdings in shares of Reynolds Consumer Products by 48.6% during the second quarter. Pacer Advisors Inc. now owns 3,890,109 shares of the company’s stock worth $108,845,000 after purchasing an additional 1,272,353 shares during the last quarter. AQR Capital Management LLC increased its position in Reynolds Consumer Products by 122.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock valued at $43,588,000 after acquiring an additional 858,419 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Reynolds Consumer Products by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,781,815 shares of the company’s stock valued at $49,859,000 after acquiring an additional 261,513 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of Reynolds Consumer Products during the third quarter worth $5,731,000. Finally, American Century Companies Inc. grew its stake in shares of Reynolds Consumer Products by 188.8% in the second quarter. American Century Companies Inc. now owns 280,137 shares of the company’s stock worth $7,838,000 after purchasing an additional 183,125 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 7,207 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $27.25 per share, for a total transaction of $196,390.75. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Helen Golding bought 1,190 shares of the stock in a transaction dated Thursday, November 14th. The stock was purchased at an average price of $27.58 per share, with a total value of $32,820.20. Following the acquisition, the director now owns 1,190 shares of the company’s stock, valued at $32,820.20. The trade was 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 company insiders.

Analysts Set New Price Targets

REYN has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on Reynolds Consumer Products in a research note on Thursday, August 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Barclays decreased their target price 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. Canaccord Genuity Group boosted their price target on shares of Reynolds Consumer Products from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Reynolds Consumer Products from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.17.

Reynolds Consumer Products Trading Up 0.2 %

NASDAQ:REYN opened at $27.69 on Friday. The firm has a fifty day simple moving average of $28.97 and a two-hundred day simple moving average of $29.06. Reynolds Consumer Products Inc. has a 12 month low of $26.07 and a 12 month high of $32.65. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 15.82 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.

Reynolds Consumer Products (NASDAQ:REYN) last issued its earnings results on Wednesday, October 30th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $910.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share. 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 declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.32%. The ex-dividend date was Friday, November 15th. Reynolds Consumer Products’s payout ratio is currently 52.57%.

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.