Hartford Investment Management Co. reduced its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 10.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,270 shares of the basic materials company’s stock after selling 1,600 shares during the period. Hartford Investment Management Co.’s holdings in Rayonier Advanced Materials were worth $209,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Rayonier Advanced Materials during the fourth quarter valued at approximately $504,000. State Street Corp raised its stake in shares of Rayonier Advanced Materials by 8.8% in the fourth quarter. State Street Corp now owns 928,250 shares of the basic materials company’s stock valued at $14,350,000 after buying an additional 74,944 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Rayonier Advanced Materials by 47.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,739 shares of the basic materials company’s stock valued at $17,559,000 after buying an additional 367,613 shares during the last quarter. Norges Bank bought a new stake in shares of Rayonier Advanced Materials during the fourth quarter valued at about $18,114,000. Finally, Teachers Advisors LLC raised its stake in shares of Rayonier Advanced Materials by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 74,877 shares of the basic materials company’s stock valued at $1,158,000 after buying an additional 1,807 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Rayonier Advanced Materials Inc. (RYAM) traded up 2.96% during trading on Friday, hitting $13.90. 581,758 shares of the company’s stock were exchanged. Rayonier Advanced Materials Inc. has a 52-week low of $10.37 and a 52-week high of $17.60. The firm has a 50 day moving average price of $14.77 and a 200 day moving average price of $14.03. The company has a market cap of $601.54 million, a price-to-earnings ratio of 16.71 and a beta of 4.28.
Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results 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 business had revenue of $201 million during the quarter, compared to analyst estimates of $214 million. Rayonier Advanced Materials had a net margin of 5.71% and a return on equity of 24.17%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. On average, equities research analysts predict that Rayonier Advanced Materials Inc. will post $0.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, September 14th. Rayonier Advanced Materials’s payout ratio is currently 35.00%.
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RYAM has been the subject of several analyst reports. Vertical Research downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a report on Thursday, June 1st. TheStreet raised shares of Rayonier Advanced Materials from a “d” rating to a “c” rating in a report on Tuesday, June 13th. Royal Bank Of Canada raised their price target on shares of Rayonier Advanced Materials from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. Vertical Group raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating and raised their price target for the company from $18.00 to $19.00 in a report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Rayonier Advanced Materials has an average rating of “Buy” and a consensus target price of $18.83.
In other news, Director Delyle W. Bloomquist acquired 5,600 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $13.48 per share, with a total value of $75,488.00. Following the completion of the acquisition, the director now owns 27,904 shares of the company’s stock, valued at $376,145.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.06% of the stock is currently owned by corporate insiders.
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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