Beacon Harbor Wealth Advisors Inc. Takes Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Beacon Harbor Wealth Advisors Inc. acquired a new position in Reynolds Consumer Products Inc. (NASDAQ:REYN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 184,274 shares of the company’s stock, valued at approximately $5,731,000.

Several other hedge funds also recently bought and sold shares of REYN. Vanguard Group Inc. boosted its stake in Reynolds Consumer Products by 0.5% in 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 position in shares of Reynolds Consumer Products by 994.7% during the first quarter. Acadian Asset Management LLC now owns 212,694 shares of the company’s stock valued at $6,068,000 after purchasing an additional 193,265 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Reynolds Consumer Products in the second quarter worth about $695,000. Bank of New York Mellon Corp lifted its position in shares of Reynolds Consumer Products by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 1,006,647 shares of the company’s stock worth $28,166,000 after buying an additional 66,826 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Reynolds Consumer Products by 18.5% during the 2nd quarter. Sei Investments Co. now owns 612,775 shares of the company’s stock worth $17,146,000 after acquiring an additional 95,469 shares in the last quarter. Institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Performance

Reynolds Consumer Products stock opened at $27.41 on Friday. Reynolds Consumer Products Inc. has a 1-year low of $25.80 and a 1-year high of $32.65. The company’s 50-day moving average is $30.40 and its 200 day moving average is $29.19. The firm has a market capitalization of $5.76 billion, a P/E ratio of 15.66 and a beta of 0.50. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $910.00 million for 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share. Research analysts forecast that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.36%. Reynolds Consumer Products’s payout ratio is currently 52.57%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on REYN. Jefferies Financial Group initiated coverage on shares of Reynolds Consumer Products in a research report on Thursday, August 29th. They issued a “buy” rating and a $38.00 price target on the stock. Canaccord Genuity Group boosted their target price 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. JPMorgan Chase & Co. increased their price target on shares of Reynolds Consumer Products from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their price objective on Reynolds Consumer Products from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Finally, Barclays decreased their price objective on Reynolds Consumer Products from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.17.

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 that occurred on Friday, November 1st. The shares were bought at an average cost of $27.25 per share, with a total value of $196,390.75. Following the completion of the acquisition, the director now directly owns 7,207 shares in the company, valued at $196,390.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

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.