Raymond James & Associates raised its holdings in Rayonier Advanced Materials Inc (NYSE:RYAM) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,444 shares of the basic materials company’s stock after buying an additional 10,058 shares during the quarter. Raymond James & Associates owned approximately 0.20% of Rayonier Advanced Materials worth $1,717,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of RYAM. Dimensional Fund Advisors LP grew its holdings in Rayonier Advanced Materials by 43.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,462,810 shares of the basic materials company’s stock valued at $42,089,000 after buying an additional 747,925 shares during the period. BlackRock Inc. grew its holdings in Rayonier Advanced Materials by 9.9% in the 2nd quarter. BlackRock Inc. now owns 7,212,116 shares of the basic materials company’s stock valued at $123,254,000 after buying an additional 651,175 shares during the period. Millennium Management LLC grew its holdings in Rayonier Advanced Materials by 1,547.7% in the 1st quarter. Millennium Management LLC now owns 534,428 shares of the basic materials company’s stock valued at $11,474,000 after buying an additional 501,994 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Rayonier Advanced Materials in the 1st quarter valued at about $5,082,000. Finally, Russell Investments Group Ltd. grew its holdings in Rayonier Advanced Materials by 67.0% in the 1st quarter. Russell Investments Group Ltd. now owns 457,192 shares of the basic materials company’s stock valued at $9,815,000 after buying an additional 183,496 shares during the period. Institutional investors own 98.76% of the company’s stock.
Several analysts have commented on RYAM shares. Zacks Investment Research cut Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. ValuEngine upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Finally, Berenberg Bank started coverage on Rayonier Advanced Materials in a report on Thursday, July 12th. They issued a “buy” rating and a $25.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $23.25.
NYSE RYAM opened at $14.63 on Friday. The stock has a market capitalization of $943.86 million, a PE ratio of 15.08, a PEG ratio of 0.39 and a beta of 3.47. Rayonier Advanced Materials Inc has a 1-year low of $13.31 and a 1-year high of $22.96. The company has a current ratio of 2.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.64.
Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.07. The business had revenue of $542.00 million for the quarter, compared to analyst estimates of $544.22 million. Rayonier Advanced Materials had a return on equity of 17.08% and a net margin of 23.97%. The company’s revenue was up 169.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Sell-side analysts expect that Rayonier Advanced Materials Inc will post 2.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, December 14th. Rayonier Advanced Materials’s dividend payout ratio is currently 28.87%.
Rayonier Advanced Materials Company Profile
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, and Pulp & Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
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