Olstein Capital Management L.P. Raises Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Olstein Capital Management L.P. raised its position in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 43.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 237,000 shares of the company’s stock after acquiring an additional 71,624 shares during the period. Olstein Capital Management L.P. owned approximately 0.11% of Reynolds Consumer Products worth $6,397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Reynolds Consumer Products by 1.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,925,469 shares of the company’s stock worth $401,982,000 after purchasing an additional 137,083 shares during the period. Dimensional Fund Advisors LP grew its stake in 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 worth $49,859,000 after buying an additional 261,513 shares during the period. AQR Capital Management LLC grew its stake in Reynolds Consumer Products by 122.7% during the second quarter. AQR Capital Management LLC now owns 1,557,835 shares of the company’s stock worth $43,588,000 after buying an additional 858,419 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Reynolds Consumer Products by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 572,862 shares of the company’s stock worth $17,816,000 after acquiring an additional 6,065 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Reynolds Consumer Products in the 3rd quarter valued at $12,844,000. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on REYN. Barclays lowered their price target on Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. decreased their price objective on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, UBS Group lowered their target price on Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.86.

Reynolds Consumer Products Stock Performance

Shares of Reynolds Consumer Products stock opened at $27.50 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 2.04. Reynolds Consumer Products Inc. has a 1 year low of $25.88 and a 1 year high of $32.65. The firm’s 50-day simple moving average is $27.33 and its 200-day simple moving average is $28.76. The firm has a market cap of $5.78 billion, a PE ratio of 15.71 and a beta of 0.50.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. Reynolds Consumer Products had a net margin of 10.03% and a return on equity of 18.27%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. Equities analysts forecast that Reynolds Consumer Products Inc. will post 1.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Helen Golding acquired 1,190 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $32,820.20. Following the purchase, the director now directly owns 1,190 shares in the company, valued at $32,820.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rolf Stangl bought 7,207 shares of the company’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $27.25 per share, for a total transaction of $196,390.75. Following the completion of the transaction, the director now directly owns 7,207 shares of the company’s stock, valued at $196,390.75. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 12,079 shares of company stock valued at $330,466. Company insiders own 0.20% of the company’s stock.

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.