Hennion & Walsh Asset Management Inc. Reduces Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Hennion & Walsh Asset Management Inc. decreased its holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 64,202 shares of the company’s stock after selling 1,060 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Reynolds Consumer Products were worth $1,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Abich Financial Wealth Management LLC grew its stake in Reynolds Consumer Products by 21.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock valued at $73,000 after buying an additional 414 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Reynolds Consumer Products by 14.8% in the third quarter. Covestor Ltd now owns 4,564 shares of the company’s stock worth $142,000 after acquiring an additional 588 shares during the period. MML Investors Services LLC grew its position in shares of Reynolds Consumer Products by 1.3% in the third quarter. MML Investors Services LLC now owns 48,700 shares of the company’s stock valued at $1,515,000 after purchasing an additional 641 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of Reynolds Consumer Products by 0.6% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 135,425 shares of the company’s stock valued at $4,212,000 after purchasing an additional 845 shares during the period. Finally, True Wealth Design LLC purchased a new stake in Reynolds Consumer Products during the 3rd quarter worth about $29,000. Institutional investors own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays reduced their target price on Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday. UBS Group decreased their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price target on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.86.

Insiders Place Their Bets

In other Reynolds Consumer Products news, Director Rolf Stangl acquired 7,207 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $27.25 per share, with a total value of $196,390.75. Following the purchase, the director now owns 7,207 shares of the company’s stock, valued at approximately $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Helen Golding bought 1,190 shares of Reynolds Consumer Products stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the acquisition, the director now owns 1,190 shares in the company, valued at $32,820.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 12,079 shares of company stock valued at $330,466 over the last quarter. 0.20% of the stock is owned by corporate insiders.

Reynolds Consumer Products Price Performance

REYN stock opened at $27.09 on Friday. The firm has a 50 day simple moving average of $27.35 and a two-hundred day simple moving average of $28.76. The stock has a market cap of $5.69 billion, a PE ratio of 15.48 and a beta of 0.50. Reynolds Consumer Products Inc. has a one year low of $25.88 and a one year high of $32.65. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.04 and a quick ratio of 0.89.

Reynolds Consumer Products (NASDAQ:REYN) last released 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). Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The firm had revenue of $910.00 million during the quarter, compared to the consensus estimate of $902.88 million. During the same period in the prior year, the company earned $0.37 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.40%. Reynolds Consumer Products’s payout ratio is 52.57%.

Reynolds Consumer Products Company 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.