Shares of Rayonier Advanced Materials Inc (NYSE:RYAM) have been given a consensus rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $23.00.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. ValuEngine raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Monday, August 6th. Berenberg Bank assumed coverage on Rayonier Advanced Materials in a research note on Thursday, July 12th. They set a “buy” rating and a $25.00 target price for the company. Finally, Bank of America cut their target price on Rayonier Advanced Materials from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 15th.
Several hedge funds have recently modified their holdings of RYAM. Dimensional Fund Advisors LP increased its stake in Rayonier Advanced Materials by 43.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,462,810 shares of the basic materials company’s stock valued at $42,089,000 after purchasing an additional 747,925 shares in the last quarter. BlackRock Inc. increased its stake in Rayonier Advanced Materials by 9.9% in the 2nd quarter. BlackRock Inc. now owns 7,212,116 shares of the basic materials company’s stock valued at $123,254,000 after purchasing an additional 651,175 shares in the last quarter. Millennium Management LLC increased its stake in 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in Rayonier Advanced Materials in the 2nd quarter valued at approximately $5,685,000. Finally, Clearline Capital LP purchased a new position in Rayonier Advanced Materials in the 2nd quarter valued at approximately $3,254,000. 98.24% of the stock is owned by institutional investors and hedge funds.
Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Thursday, August 2nd. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. The business had revenue of $542.00 million during the quarter, compared to the consensus estimate of $544.22 million. Rayonier Advanced Materials had a return on equity of 17.08% and a net margin of 23.97%. The company’s revenue for the quarter was up 169.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS. On average, equities research analysts expect that Rayonier Advanced Materials will post 2.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, December 14th. Rayonier Advanced Materials’s dividend payout ratio (DPR) is 28.87%.
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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