Reynolds Consumer Products Inc. (NASDAQ:REYN) Stake Raised by Olstein Capital Management L.P.

Olstein Capital Management L.P. lifted its holdings in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 43.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 237,000 shares of the company’s stock after acquiring an additional 71,624 shares during the period. Olstein Capital Management L.P.’s holdings in Reynolds Consumer Products were worth $6,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in REYN. True Wealth Design LLC bought a new stake in Reynolds Consumer Products during the 3rd quarter valued at $29,000. Eagle Bay Advisors LLC bought a new stake in shares of Reynolds Consumer Products during the fourth quarter valued at about $40,000. Capital Performance Advisors LLP bought a new stake in shares of Reynolds Consumer Products during the third quarter valued at about $70,000. Abich Financial Wealth Management LLC lifted its holdings in Reynolds Consumer Products by 21.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,357 shares of the company’s stock worth $73,000 after purchasing an additional 414 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Reynolds Consumer Products by 93.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,561 shares of the company’s stock valued at $80,000 after buying an additional 1,239 shares in the last quarter. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Price Performance

NASDAQ REYN opened at $27.50 on Friday. The stock’s 50-day moving average price is $27.33 and its two-hundred day moving average price is $28.76. The company has a market cap of $5.78 billion, a PE ratio of 15.71 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 Inc. has a 1 year low of $25.88 and a 1 year high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $910.00 million for the quarter, compared to analyst estimates of $902.88 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Reynolds Consumer Products Inc. will post 1.69 EPS for the current year.

Insider Transactions at Reynolds Consumer Products

In related news, Director Helen Golding purchased 1,190 shares of the stock in a transaction dated 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 directly owns 1,190 shares in the company, valued at approximately $32,820.20. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rolf Stangl acquired 7,207 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $27.25 per share, with a total value 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 disclosure for this purchase can be found here. Insiders purchased 12,079 shares of company stock valued at $330,466 over the last three months. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

REYN has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Reynolds Consumer Products from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. UBS Group lowered their price objective on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Reynolds Consumer Products has an average rating of “Hold” and an average target price of $30.86.

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.