Renaissance Technologies LLC Has $81.29 Million Holdings in Rayonier Advanced Materials Inc (RYAM)

Renaissance Technologies LLC raised its stake in shares of Rayonier Advanced Materials Inc (NYSE:RYAM) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,975,038 shares of the basic materials company’s stock after purchasing an additional 270,238 shares during the period. Renaissance Technologies LLC owned 0.09% of Rayonier Advanced Materials worth $81,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware boosted its holdings in shares of Rayonier Advanced Materials by 1.5% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 211,762 shares of the basic materials company’s stock valued at $2,901,000 after purchasing an additional 3,230 shares during the last quarter. Texas Permanent School Fund boosted its holdings in shares of Rayonier Advanced Materials by 10.8% during the 4th quarter. Texas Permanent School Fund now owns 35,005 shares of the basic materials company’s stock valued at $716,000 after purchasing an additional 3,417 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Rayonier Advanced Materials by 15.3% during the 3rd quarter. Victory Capital Management Inc. now owns 26,977 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 3,577 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Rayonier Advanced Materials by 27.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the basic materials company’s stock valued at $456,000 after purchasing an additional 4,800 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Rayonier Advanced Materials by 4.2% during the 3rd quarter. California Public Employees Retirement System now owns 148,400 shares of the basic materials company’s stock valued at $2,033,000 after purchasing an additional 6,000 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

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Rayonier Advanced Materials Inc (NYSE RYAM) opened at $19.92 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.10 and a quick ratio of 1.12. Rayonier Advanced Materials Inc has a 1-year low of $11.88 and a 1-year high of $21.44. The company has a market cap of $1,029.51, a PE ratio of 21.19, a P/E/G ratio of 2.27 and a beta of 3.69.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.35. Rayonier Advanced Materials had a net margin of 33.92% and a return on equity of 16.99%. The firm had revenue of $349.00 million during the quarter, compared to the consensus estimate of $349.31 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 51.1% compared to the same quarter last year. research analysts expect that Rayonier Advanced Materials Inc will post 1.75 earnings per share for the current year.

Rayonier Advanced Materials declared that its Board of Directors has approved a share buyback plan on Tuesday, February 20th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the basic materials company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, March 15th. Rayonier Advanced Materials’s payout ratio is 5.12%.

RYAM has been the subject of several research reports. Vertical Research downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Bank of America increased their price objective on shares of Rayonier Advanced Materials from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. TheStreet raised shares of Rayonier Advanced Materials from a “c” rating to a “b” rating in a report on Wednesday, December 13th. Finally, ValuEngine raised shares of Rayonier Advanced Materials from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.83.

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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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Institutional Ownership by Quarter for Rayonier Advanced Materials (NYSE:RYAM)

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