Ameriprise Financial Inc. cut its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 6.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 638,654 shares of the basic materials company’s stock after selling 44,835 shares during the period. Ameriprise Financial Inc. owned about 1.51% of Rayonier Advanced Materials worth $10,039,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in RYAM. State of Alaska Department of Revenue grew its position in Rayonier Advanced Materials by 77.4% in the second quarter. State of Alaska Department of Revenue now owns 8,482 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 3,702 shares in the last quarter. Mason Street Advisors LLC grew its position in Rayonier Advanced Materials by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,118 shares of the basic materials company’s stock worth $136,000 after acquiring an additional 663 shares in the last quarter. GW&K Investment Management LLC purchased a new position in Rayonier Advanced Materials in the second quarter worth $181,000. MARSHALL WACE ASIA Ltd purchased a new position in Rayonier Advanced Materials in the first quarter worth $198,000. Finally, Marshall Wace North America L.P. purchased a new position in Rayonier Advanced Materials in the first quarter worth $198,000. Institutional investors own 93.47% of the company’s stock.
RYAM has been the subject of several research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $18.00 target price on shares of Rayonier Advanced Materials in a research report on Monday, August 21st. Sidoti began coverage on shares of Rayonier Advanced Materials in a research note on Thursday, August 17th. They issued a “buy” rating and a $19.00 price target for the company. Vertical Group raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $19.00 in a research note on Tuesday, July 25th. Zacks Investment Research downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Vertical Research raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.50.
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Shares of Rayonier Advanced Materials Inc. (RYAM) opened at 13.74 on Friday. The company has a market capitalization of $594.61 million, a P/E ratio of 16.51 and a beta of 4.27. The firm has a 50-day moving average of $13.76 and a 200 day moving average of $14.20. Rayonier Advanced Materials Inc. has a 1-year low of $11.87 and a 1-year high of $17.60.
Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.15). Rayonier Advanced Materials had a return on equity of 24.17% and a net margin of 5.71%. The business had revenue of $201.00 million during the quarter, compared to analysts’ expectations of $214.00 million. During the same period in the previous year, the business earned $0.46 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. On average, analysts anticipate that Rayonier Advanced Materials Inc. will post $0.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.04%. Rayonier Advanced Materials’s payout ratio is currently 35.00%.
In other Rayonier Advanced Materials news, Director Delyle W. Bloomquist acquired 5,600 shares of the company’s stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of $13.48 per share, with a total value of $75,488.00. Following the purchase, the director now directly owns 27,904 shares of the company’s stock, valued at approximately $376,145.92. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 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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