Shares of Rayonier Advanced Materials (NYSE:RYAM) shot up 1.8% during mid-day trading on Wednesday . The company traded as high as $22.40 and last traded at $22.71. 241,942 shares were traded during mid-day trading, a decline of 72% from the average session volume of 872,608 shares. The stock had previously closed at $22.31.
A number of research firms have issued reports on RYAM. ValuEngine downgraded Rayonier Advanced Materials from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 12th. Zacks Investment Research raised Rayonier Advanced Materials from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, January 4th. Vertical Research downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Bank of America lifted their price objective on Rayonier Advanced Materials from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $20.83.
The stock has a market cap of $1,097.20, a price-to-earnings ratio of 23.46, a P/E/G ratio of 2.42 and a beta of 3.52. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.10 and a quick ratio of 1.12.
Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, February 20th. The basic materials company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.35. The firm had revenue of $349.00 million for 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 company’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. equities analysts anticipate that Rayonier Advanced Materials will post 1.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, March 15th. Rayonier Advanced Materials’s dividend payout ratio is currently 28.87%.
Rayonier Advanced Materials declared that its board has authorized a stock buyback plan on Tuesday, February 20th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYAM. Wells Fargo & Company MN increased its position in shares of Rayonier Advanced Materials by 34.3% during the 3rd quarter. Wells Fargo & Company MN now owns 97,702 shares of the basic materials company’s stock valued at $1,338,000 after purchasing an additional 24,937 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Rayonier Advanced Materials by 18.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 286,672 shares of the basic materials company’s stock valued at $3,928,000 after acquiring an additional 45,442 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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 valued at $22,434,000 after acquiring an additional 109,644 shares during the period. Point72 Asset Management L.P. purchased a new position in Rayonier Advanced Materials during the 3rd quarter valued at $3,226,000. Finally, California Public Employees Retirement System boosted its holdings in Rayonier Advanced Materials by 4.2% during the 3rd quarter. California Public Employees Retirement System now owns 148,400 shares of the basic materials company’s stock valued at $2,033,000 after acquiring an additional 6,000 shares during the period. 94.21% of the stock is currently owned by hedge funds and other institutional investors.
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About Rayonier Advanced Materials
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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