American Century Companies Inc. cut its holdings in shares of Rayonier Advanced Materials Inc (NYSE:RYAM) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,192 shares of the basic materials company’s stock after selling 42,107 shares during the period. American Century Companies Inc.’s holdings in Rayonier Advanced Materials were worth $3,419,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in Rayonier Advanced Materials by 6.6% during the 2nd quarter. California Public Employees Retirement System now owns 142,400 shares of the basic materials company’s stock worth $2,239,000 after purchasing an additional 8,800 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Rayonier Advanced Materials during the 3rd quarter worth approximately $374,000. Dimensional Fund Advisors LP grew its stake in shares of Rayonier Advanced Materials by 7.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,637,500 shares of the basic materials company’s stock worth $22,434,000 after acquiring an additional 109,644 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Rayonier Advanced Materials by 46.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 24,169 shares of the basic materials company’s stock worth $331,000 after acquiring an additional 7,669 shares in the last quarter. Finally, Skylands Capital LLC grew its stake in shares of Rayonier Advanced Materials by 60.3% during the 4th quarter. Skylands Capital LLC now owns 159,820 shares of the basic materials company’s stock worth $3,268,000 after acquiring an additional 60,120 shares in the last quarter. Institutional investors own 98.40% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Rayonier Advanced Materials from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research note on Thursday, January 4th. Vertical Research downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. ValuEngine raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America increased their price objective on Rayonier Advanced Materials from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday. Finally, TheStreet raised Rayonier Advanced Materials from a “c” rating to a “b” rating in a report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.83.
Shares of Rayonier Advanced Materials Inc (NYSE:RYAM) opened at $20.04 on Friday. The company has a market capitalization of $856.88, a P/E ratio of 3.66, a PEG ratio of 2.26 and a beta of 4.03. The company has a quick ratio of 1.20, a current ratio of 2.10 and a debt-to-equity ratio of 1.78. Rayonier Advanced Materials Inc has a twelve month low of $11.88 and a twelve month high of $20.99.
Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.15 by $0.35. The company had revenue of $349.00 million during the quarter, compared to the consensus estimate of $349.31 million. Rayonier Advanced Materials had a return on equity of 16.99% and a net margin of 33.92%. The firm’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. analysts forecast that Rayonier Advanced Materials Inc will post 1.75 earnings per share for the current year.
Rayonier Advanced Materials announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 20th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the basic materials company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
ILLEGAL ACTIVITY NOTICE: “American Century Companies Inc. Cuts Holdings in Rayonier Advanced Materials Inc (RYAM)” was reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://transcriptdaily.com/2018/02/25/american-century-companies-inc-cuts-holdings-in-rayonier-advanced-materials-inc-ryam.html.
About Rayonier Advanced Materials
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.
Want to see what other hedge funds are holding RYAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rayonier Advanced Materials Inc (NYSE:RYAM).
Receive News & Ratings for Rayonier Advanced Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Advanced Materials and related companies with MarketBeat.com's FREE daily email newsletter.