Connor Clark & Lunn Investment Management Ltd. Increases Position in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Connor Clark & Lunn Investment Management Ltd. raised its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 19.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 334,535 shares of the company’s stock after purchasing an additional 54,203 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of Reynolds Consumer Products worth $9,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of REYN. Verition Fund Management LLC purchased a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at approximately $12,844,000. Allspring Global Investments Holdings LLC increased its position in shares of Reynolds Consumer Products by 1.4% in 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 purchasing an additional 182,353 shares during the last quarter. Jane Street Group LLC increased its position in shares of Reynolds Consumer Products by 758.9% in the 3rd quarter. Jane Street Group LLC now owns 167,722 shares of the company’s stock valued at $5,216,000 after purchasing an additional 148,194 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Reynolds Consumer Products in the 3rd quarter valued at approximately $4,397,000. Finally, Bank of New York Mellon Corp grew its position in shares of Reynolds Consumer Products by 13.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,805 shares of the company’s stock valued at $32,707,000 after buying an additional 139,576 shares during the last quarter. 26.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Reynolds Consumer Products

In other news, Director Rolf Stangl purchased 3,682 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of $27.50 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the director now directly owns 10,889 shares in the company, valued at $299,447.50. The trade was a 51.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Reynolds Consumer Products Trading Up 0.1 %

Shares of Reynolds Consumer Products stock opened at $23.41 on Friday. Reynolds Consumer Products Inc. has a 1 year low of $23.13 and a 1 year high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 2.04. The company has a market capitalization of $4.92 billion, a P/E ratio of 13.93 and a beta of 0.56. The company’s fifty day moving average is $25.55 and its two-hundred day moving average is $27.90.

Reynolds Consumer Products (NASDAQ:REYN) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a net margin of 9.56% and a return on equity of 17.14%. Analysts forecast that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current year.

Reynolds Consumer Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.93%. Reynolds Consumer Products’s dividend payout ratio (DPR) is 54.76%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Reynolds Consumer Products from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 target price on shares of Reynolds Consumer Products in a research report on Monday, February 3rd. UBS Group dropped 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 research report on Thursday, January 16th. Evercore ISI dropped their target price on shares of Reynolds Consumer Products from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.38.

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.