Capstone Asset Management Co. decreased its stake in Rayonier Advanced Materials Inc (NYSE:RYAM) by 3.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,414 shares of the basic materials company’s stock after selling 450 shares during the period. Capstone Asset Management Co.’s holdings in Rayonier Advanced Materials were worth $195,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in RYAM. Vanguard Group Inc. boosted its stake in 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 stake in Rayonier Advanced Materials by 24.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,411,284 shares of the basic materials company’s stock valued at $18,981,000 after buying an additional 275,545 shares during the last quarter. State Street Corp boosted its stake in Rayonier Advanced Materials by 15.9% in the first quarter. State Street Corp now owns 1,075,593 shares of the basic materials company’s stock valued at $14,465,000 after buying an additional 147,343 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in 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. Finally, Principal Financial Group Inc. boosted its stake in 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 valued at $4,786,000 after buying an additional 12,018 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.
Shares of Rayonier Advanced Materials Inc (RYAM) traded down 1.32% during trading on Tuesday, hitting $13.45. The stock had a trading volume of 122,279 shares. The company has a market cap of $582.06 million, a PE ratio of 16.17 and a beta of 4.28. The firm’s 50 day moving average is $14.71 and its 200 day moving average is $14.04. Rayonier Advanced Materials Inc has a 1-year low of $10.37 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.15. Rayonier Advanced Materials had a return on equity of 2.08% and a net margin of 2.27%. The business had revenue of $201 million during the quarter, compared to analysts’ expectations of $214 million. During the same quarter last year, the business posted $0.46 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts anticipate that Rayonier Advanced Materials Inc will post $0.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.05%. Rayonier Advanced Materials’s dividend payout ratio (DPR) is presently 35.00%.
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RYAM has been the subject of several research reports. TheStreet raised Rayonier Advanced Materials from a “d” rating to a “c” rating in a report on Tuesday, June 13th. Royal Bank Of Canada restated a “buy” rating and set a $18.00 price objective on shares of Rayonier Advanced Materials in a research note on Monday. Sidoti assumed coverage on Rayonier Advanced Materials in a research note on Thursday, August 17th. They set a “buy” rating and a $19.00 price objective on the stock. Vertical Research lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Thursday, June 1st. Finally, Vertical Group upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $19.00 in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.50.
In other Rayonier Advanced Materials news, Director Delyle W. Bloomquist acquired 5,600 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average price of $13.48 per share, for a total transaction of $75,488.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. Company insiders own 2.14% 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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