Matthew Goff Investment Advisor LLC purchased a new position in shares of Rayonier Advanced Materials Inc (NYSE:RYAM) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 25,635 shares of the basic materials company’s stock, valued at approximately $1,500,000.
A number of other institutional investors also recently added to or reduced their stakes in RYAM. Sigma Planning Corp acquired a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $178,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $188,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $200,000. Point72 Hong Kong Ltd acquired a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $203,000. Finally, United Services Automobile Association acquired a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $205,000. 96.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RYAM stock traded up $0.12 on Thursday, hitting $13.77. 37,457 shares of the stock traded hands, compared to its average volume of 710,135. The company has a current ratio of 2.32, a quick ratio of 1.26 and a debt-to-equity ratio of 1.53. The firm has a market cap of $696.98 million, a P/E ratio of 14.16, a P/E/G ratio of 0.23 and a beta of 3.60. Rayonier Advanced Materials Inc has a 1-year low of $11.65 and a 1-year high of $22.96.
Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). The firm had revenue of $544.00 million for the quarter, compared to analyst estimates of $556.46 million. Rayonier Advanced Materials had a net margin of 21.00% and a return on equity of 17.33%. The business’s revenue was up 159.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. On average, research analysts forecast that Rayonier Advanced Materials Inc will post 1.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, December 14th. Rayonier Advanced Materials’s dividend payout ratio is currently 28.87%.
A number of brokerages have issued reports on RYAM. Zacks Investment Research lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. ValuEngine lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Bank of America cut their target price on Rayonier Advanced Materials from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 15th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $21.67.
In other news, Chairman Paul G. Boynton purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average cost of $13.72 per share, with a total value of $137,200.00. Following the transaction, the chairman now owns 273,020 shares in the company, valued at approximately $3,745,834.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 3,000 shares of company stock worth $47,500. Corporate insiders own 2.23% of the company’s stock.
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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.
Further Reading: Stock Symbol
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