Schwab Charles Investment Management Inc. increased its position in Rayonier Advanced Materials Inc (NYSE:RYAM) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 470,476 shares of the basic materials company’s stock after purchasing an additional 21,234 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Rayonier Advanced Materials were worth $8,041,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RYAM. Marcato Capital Management LP lifted its stake in shares of Rayonier Advanced Materials by 40.2% in the 1st quarter. Marcato Capital Management LP now owns 2,182,000 shares of the basic materials company’s stock valued at $46,847,000 after purchasing an additional 625,673 shares during the period. Millennium Management LLC lifted its stake in shares of Rayonier Advanced Materials by 1,547.7% in the 1st quarter. Millennium Management LLC now owns 534,428 shares of the basic materials company’s stock valued at $11,474,000 after purchasing an additional 501,994 shares during the period. BlackRock Inc. lifted its stake in shares of Rayonier Advanced Materials by 5.6% in the 1st quarter. BlackRock Inc. now owns 6,560,941 shares of the basic materials company’s stock valued at $140,865,000 after purchasing an additional 346,575 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Rayonier Advanced Materials in the 1st quarter valued at approximately $5,082,000. Finally, Ancora Advisors LLC lifted its stake in shares of Rayonier Advanced Materials by 108.9% in the 1st quarter. Ancora Advisors LLC now owns 435,497 shares of the basic materials company’s stock valued at $9,350,000 after purchasing an additional 226,985 shares during the period. Institutional investors own 98.76% of the company’s stock.
A number of research analysts have recently commented on RYAM shares. ValuEngine upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Berenberg Bank started coverage on Rayonier Advanced Materials in a research note on Thursday, July 12th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Zacks Investment Research cut Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Six investment analysts have rated the stock with a buy rating, Rayonier Advanced Materials currently has an average rating of “Buy” and a consensus target price of $23.25.
Shares of NYSE:RYAM opened at $20.64 on Thursday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 0.44 and a beta of 3.45. Rayonier Advanced Materials Inc has a 12-month low of $13.31 and a 12-month high of $22.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.17 and a quick ratio of 1.15.
Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.07. The business had revenue of $542.00 million during the quarter, compared to analysts’ expectations of $544.22 million. Rayonier Advanced Materials had a return on equity of 17.08% and a net margin of 23.97%. The firm’s quarterly revenue was up 169.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. research analysts anticipate that Rayonier Advanced Materials Inc will post 2.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 13th. Rayonier Advanced Materials’s payout ratio is 28.87%.
Rayonier Advanced Materials Company Profile
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, and Pulp & Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
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