GW&K Investment Management LLC purchased a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,535 shares of the basic materials company’s stock, valued at approximately $181,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Marshwinds Advisory Co. purchased a new position in Rayonier Advanced Materials during the second quarter worth approximately $593,000. Fox Run Management L.L.C. purchased a new position in Rayonier Advanced Materials during the second quarter worth approximately $514,000. Tudor Investment Corp ET AL boosted its position in Rayonier Advanced Materials by 95.7% in the first quarter. Tudor Investment Corp ET AL now owns 50,567 shares of the basic materials company’s stock worth $680,000 after buying an additional 24,727 shares during the last quarter. Paloma Partners Management Co purchased a new position in Rayonier Advanced Materials during the first quarter worth approximately $370,000. Finally, Highbridge Capital Management LLC boosted its position in Rayonier Advanced Materials by 38.9% in the first quarter. Highbridge Capital Management LLC now owns 109,905 shares of the basic materials company’s stock worth $1,478,000 after buying an additional 30,788 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.
Rayonier Advanced Materials Inc. (NYSE RYAM) traded up 0.83% during mid-day trading on Friday, reaching $13.35. 648,667 shares of the company traded hands. The stock has a 50 day moving average price of $15.08 and a 200-day moving average price of $14.16. The company has a market capitalization of $577.73 million, a P/E ratio of 16.05 and a beta of 4.28. Rayonier Advanced Materials Inc. has a 52-week low of $10.37 and a 52-week 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. The company 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 firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share. Analysts expect that Rayonier Advanced Materials Inc. will post $0.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.07 per share. 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 2.10%. Rayonier Advanced Materials’s payout ratio is presently 35.00%.
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A number of research analysts have recently commented on the stock. 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 research report on Thursday, June 1st. TheStreet raised shares of 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 shares of 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 raised shares of 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 cut shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. Rayonier Advanced Materials currently has a consensus rating of “Hold” and an average target price of $18.80.
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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