Rolf Stangl, a director at Reynolds Consumer Products Inc . (NASDAQ:REYN), recently acquired 3,682 shares of the company's common stock. The purchase, made on December 19, 2024, was executed at a price of $27.50 per share, amounting to a total transaction value of $101,255. The timing appears strategic, as the stock trades near its 52-week low, with InvestingPro data showing a current market capitalization of $5.78 billion and an attractive 3.36% dividend yield. Following this acquisition, Stangl's direct ownership in the company increased to 10,889 shares. This transaction reflects a significant investment in the company by one of its board members, highlighting confidence in the firm's future prospects. InvestingPro analysis reveals strong fundamentals, with liquid assets exceeding short-term obligations and a healthy current ratio of 2.03. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Reynolds Consumer Products reported its Q3 2024 earnings, with total revenues reaching $910 million, adjusted EBITDA hitting $171 million, and an 11% increase in earnings per share to $0.41. Leadership changes were announced, with Scott Huckins taking over as President and CEO, and Nathan Lowe stepping in as CFO starting 2025. The full-year revenue outlook is slightly increased, ranging between $3.620 billion and $3.660 billion.
However, the company expects Q4 2024 net revenue to be lower than Q4 2023's $1.007 billion. Reynolds Cooking & Baking segment gained market share, performing well with younger consumers, while other disposable tableware categories showed modest growth. On the downside, declining foam plate volumes due to legislative changes and shifts toward sustainable products, challenges in the waste bag market, and higher resin prices are impacting profits.
These are some of the recent developments in the company. Remember, these projections and analysis are provided by independent analysts and not the author's opinion.
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