New York State Teachers Retirement System lowered its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 0.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 99,676 shares of the basic materials company’s stock after selling 100 shares during the period. New York State Teachers Retirement System owned approximately 0.23% of Rayonier Advanced Materials worth $1,341,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Rayonier Advanced Materials during the fourth quarter valued at about $18,114,000. Vanguard Group Inc. boosted its position in shares of Rayonier Advanced Materials by 6.3% in the first quarter. Vanguard Group Inc. now owns 6,896,195 shares of the basic materials company’s stock valued at $92,755,000 after buying an additional 409,971 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Rayonier Advanced Materials by 47.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,739 shares of the basic materials company’s stock valued at $17,559,000 after buying an additional 367,613 shares during the last quarter. Spark Investment Management LLC acquired a new position in shares of Rayonier Advanced Materials during the first quarter valued at about $3,304,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in shares of Rayonier Advanced Materials by 75.0% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 389,331 shares of the basic materials company’s stock valued at $5,235,000 after buying an additional 166,831 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.
Shares of Rayonier Advanced Materials Inc. (NYSE RYAM) opened at 14.87 on Friday. Rayonier Advanced Materials Inc. has a 12-month low of $10.37 and a 12-month high of $17.60. The company has a market capitalization of $642.70 million, a PE ratio of 11.92 and a beta of 4.32. The stock has a 50 day moving average of $15.86 and a 200-day moving average of $14.28.
Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Monday, May 1st. The basic materials company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.02. Rayonier Advanced Materials had a return on equity of 37.41% and a net margin of 7.27%. The company had revenue of $201 million for the quarter, compared to analyst estimates of $200.28 million. During the same period in the prior year, the firm posted $0.36 earnings per share. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. Analysts predict that Rayonier Advanced Materials Inc. will post $0.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, June 14th. Rayonier Advanced Materials’s dividend payout ratio is presently 22.76%.
RYAM has been the topic of several recent research reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Rayonier Advanced Materials in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 5th. Vertical Research cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a report on Thursday, June 1st. Bank of America Corporation upgraded shares of Rayonier Advanced Materials from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, May 26th. Finally, TheStreet upgraded shares of Rayonier Advanced Materials from a “d” rating to a “c” rating in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Rayonier Advanced Materials has a consensus rating of “Hold” and an average price target of $18.17.
Rayonier Advanced Materials Company Profile
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.
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