Vanguard Group Inc. raised its position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,896,195 shares of the basic materials company’s stock after buying an additional 409,971 shares during the period. Vanguard Group Inc. owned 15.94% of Rayonier Advanced Materials worth $92,755,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of RYAM. Norges Bank acquired a new stake in shares of Rayonier Advanced Materials during the fourth quarter worth about $18,114,000. Dimensional Fund Advisors LP increased its stake 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 worth $17,559,000 after buying an additional 367,613 shares during the period. State Street Corp increased its stake in shares of Rayonier Advanced Materials by 8.8% in the fourth quarter. State Street Corp now owns 928,250 shares of the basic materials company’s stock worth $14,350,000 after buying an additional 74,944 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake 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 worth $5,235,000 after buying an additional 166,831 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Rayonier Advanced Materials by 3.5% in the first quarter. Principal Financial Group Inc. now owns 355,831 shares of the basic materials company’s stock worth $4,786,000 after buying an additional 12,018 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Shares of Rayonier Advanced Materials Inc. (NYSE RYAM) opened at 13.50 on Friday. Rayonier Advanced Materials Inc. has a 12 month low of $10.37 and a 12 month high of $17.60. The firm has a 50-day moving average price of $14.82 and a 200 day moving average price of $14.05. The company has a market cap of $584.23 million, a P/E ratio of 16.23 and a beta of 4.28.
Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.15. The firm had revenue of $201 million for the quarter, compared to the consensus estimate of $214 million. Rayonier Advanced Materials had a net margin of 5.71% and a return on equity of 24.17%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. Equities analysts predict that Rayonier Advanced Materials Inc. will post $0.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, September 14th. Rayonier Advanced Materials’s dividend payout ratio (DPR) is presently 35.00%.
A number of analysts recently weighed in on the company. Vertical Research downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Thursday, June 1st. TheStreet upgraded Rayonier Advanced Materials from a “d” rating to a “c” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada boosted their target price on Rayonier Advanced Materials from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 30th. Vertical Group upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $19.00 in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $18.83.
In related news, Director Delyle W. Bloomquist purchased 5,600 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $13.48 per share, for a total transaction of $75,488.00. Following the acquisition, the director now owns 27,904 shares of the company’s stock, valued at approximately $376,145.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.06% of the company’s stock.
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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