Reynolds Consumer Products (NASDAQ:REYN) Hits New 52-Week Low – Time to Sell?

Reynolds Consumer Products Inc. (NASDAQ:REYN) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $23.57 and last traded at $23.44, with a volume of 159383 shares traded. The stock had previously closed at $23.86.

Wall Street Analyst Weigh In

A number of research analysts have commented on REYN shares. Stifel Nicolaus dropped their price objective on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on shares of 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. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 target price on shares of Reynolds Consumer Products in a report on Monday, February 3rd. Canaccord Genuity Group cut their target price on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Finally, Barclays reduced their target price 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. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Reynolds Consumer Products currently has an average rating of “Hold” and a consensus target price of $30.38.

Reynolds Consumer Products Stock Performance

The stock has a market capitalization of $4.96 billion, a P/E ratio of 14.04 and a beta of 0.56. The firm has a 50-day moving average of $26.06 and a 200 day moving average of $28.24. The company has a quick ratio of 0.99, a current ratio of 2.04 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 (EPS) for the quarter, meeting the consensus estimate of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Research analysts anticipate that Reynolds Consumer Products Inc. will post 1.66 EPS for the current fiscal year.

Reynolds Consumer Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.23 per share. The ex-dividend date was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.90%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 54.76%.

Insider Buying and Selling at Reynolds Consumer Products

In related news, Director Rolf Stangl purchased 6,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $24.89 per share, with a total value of $149,340.00. Following the acquisition, the director now directly owns 16,889 shares of the company’s stock, valued at approximately $420,367.21. This represents a 55.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Reynolds Consumer Products

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Reynolds Consumer Products during the fourth quarter worth $17,964,000. Verition Fund Management LLC acquired a new stake in shares of Reynolds Consumer Products in the 3rd quarter worth $12,844,000. Dimensional Fund Advisors LP raised its stake in Reynolds Consumer Products by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,356,040 shares of the company’s stock worth $63,586,000 after acquiring an additional 275,601 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new stake in Reynolds Consumer Products in the 3rd quarter worth approximately $5,731,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Reynolds Consumer Products by 1.4% during 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 buying an additional 182,353 shares in the last quarter. Hedge funds and other institutional investors own 26.81% 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.