Steelhead Partners LLC acquired a new position in shares of Rayonier Advanced Materials Inc (NYSE:RYAM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 86,255 shares of the basic materials company’s stock, valued at approximately $1,764,000. Steelhead Partners LLC owned 0.20% of Rayonier Advanced Materials at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of RYAM. Quantbot Technologies LP grew its holdings in shares of Rayonier Advanced Materials by 1,613.9% during the 3rd quarter. Quantbot Technologies LP now owns 10,129 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 9,538 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth $176,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth $186,000. Trexquant Investment LP acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth $217,000. Finally, Miles Capital Inc. acquired a new stake in shares of Rayonier Advanced Materials during the 4th quarter worth $290,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Several analysts have recently issued reports on the company. ValuEngine lowered Rayonier Advanced Materials from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research raised Rayonier Advanced Materials from a “hold” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a report on Thursday, January 4th. TheStreet raised Rayonier Advanced Materials from a “c” rating to a “b” rating in a report on Wednesday, December 13th. Bank of America increased their target price on Rayonier Advanced Materials from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Vertical Research lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $20.83.
Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.35. The business had revenue of $349.00 million for the quarter, compared to analyst estimates of $349.31 million. Rayonier Advanced Materials had a return on equity of 16.99% and a net margin of 33.92%. Rayonier Advanced Materials’s revenue was up 51.1% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. equities analysts predict that Rayonier Advanced Materials Inc will post 1.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, March 15th. Rayonier Advanced Materials’s dividend payout ratio (DPR) is presently 5.12%.
Rayonier Advanced Materials announced that its board has authorized a stock repurchase plan on Tuesday, February 20th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
WARNING: “Steelhead Partners LLC Acquires Shares of 86,255 Rayonier Advanced Materials Inc (RYAM)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/03/12/steelhead-partners-llc-acquires-shares-of-86255-rayonier-advanced-materials-inc-ryam.html.
About Rayonier Advanced Materials
Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.
Receive News & Ratings for Rayonier Advanced Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Advanced Materials and related companies with MarketBeat.com's FREE daily email newsletter.