KLCM Advisors Inc. Purchases 276,898 Shares of Reynolds Consumer Products Inc. (NASDAQ:REYN)

KLCM Advisors Inc. boosted its position in Reynolds Consumer Products Inc. (NASDAQ:REYN) by 112.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 522,891 shares of the company’s stock after acquiring an additional 276,898 shares during the quarter. Reynolds Consumer Products accounts for 2.2% of KLCM Advisors Inc.’s holdings, making the stock its 19th largest holding. KLCM Advisors Inc.’s holdings in Reynolds Consumer Products were worth $14,034,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in REYN. Comerica Bank bought a new stake in shares of Reynolds Consumer Products during the second quarter worth $3,777,000. FMR LLC lifted its holdings in shares of Reynolds Consumer Products by 7.4% during the third quarter. FMR LLC now owns 6,454,619 shares of the company’s stock worth $165,432,000 after purchasing an additional 442,654 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Reynolds Consumer Products by 840.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 131,324 shares of the company’s stock worth $3,366,000 after purchasing an additional 117,364 shares during the period. Barclays PLC lifted its holdings in shares of Reynolds Consumer Products by 2.3% during the third quarter. Barclays PLC now owns 27,586 shares of the company’s stock worth $707,000 after purchasing an additional 632 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Reynolds Consumer Products by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 485,895 shares of the company’s stock worth $12,453,000 after purchasing an additional 22,071 shares during the period. 26.81% of the stock is owned by institutional investors.

Reynolds Consumer Products Stock Performance

Shares of NASDAQ REYN remained flat at $28.16 during trading on Wednesday. 136,069 shares of the stock traded hands, compared to its average volume of 591,997. The firm has a fifty day moving average of $28.72 and a two-hundred day moving average of $27.25. Reynolds Consumer Products Inc. has a 52-week low of $24.80 and a 52-week high of $30.54. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 19.83 and a beta of 0.49. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.18 and a quick ratio of 1.08.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Reynolds Consumer Products had a net margin of 7.98% and a return on equity of 15.77%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, analysts predict that Reynolds Consumer Products Inc. will post 1.61 EPS for the current year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Wednesday, February 14th. Reynolds Consumer Products’s payout ratio is presently 64.79%.

Analyst Ratings Changes

REYN has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Reynolds Consumer Products from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Barclays lifted their price target on shares of Reynolds Consumer Products from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. TheStreet upgraded shares of Reynolds Consumer Products from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Stifel Nicolaus restated a “hold” rating and issued a $30.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 target price on shares of Reynolds Consumer Products in a report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.80.

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.