Rayonier Advanced Materials (NYSE:RYAM) Downgraded by ValuEngine

ValuEngine cut shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a sell rating in a report issued on Wednesday, October 17th.

Several other analysts have also issued reports on RYAM. Berenberg Bank initiated coverage on shares of Rayonier Advanced Materials in a research report on Thursday, July 12th. They issued a buy rating and a $25.00 price target on the stock. Zacks Investment Research lowered shares of Rayonier Advanced Materials from a buy rating to a hold rating in a research report on Wednesday, September 19th. Finally, Bank of America reduced their price objective on shares of Rayonier Advanced Materials from $26.00 to $24.00 and set a buy rating for the company in a report on Monday, October 15th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Rayonier Advanced Materials presently has an average rating of Hold and a consensus target price of $21.67.

Shares of RYAM traded up $0.07 during mid-day trading on Wednesday, hitting $13.77. 1,420,038 shares of the company’s stock were exchanged, compared to its average volume of 1,076,841. Rayonier Advanced Materials has a twelve month low of $11.65 and a twelve month high of $22.96. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 1.53. The firm has a market cap of $732.35 million, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.35 and a beta of 3.56.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Monday, November 5th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.08). Rayonier Advanced Materials had a net margin of 21.00% and a return on equity of 17.33%. The firm had revenue of $544.00 million during the quarter, compared to analyst estimates of $556.46 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The business’s quarterly revenue was up 159.0% compared to the same quarter last year. As a group, research analysts predict that Rayonier Advanced Materials will post 1.9 earnings per share 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 issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a 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 hedge funds have recently made changes to their positions in RYAM. Dimensional Fund Advisors LP lifted its holdings in Rayonier Advanced Materials by 43.6% during 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 during the last quarter. BlackRock Inc. lifted its holdings in Rayonier Advanced Materials by 9.9% during 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 during the last quarter. Millennium Management LLC lifted its holdings in Rayonier Advanced Materials by 1,547.7% during 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 last quarter. LSV Asset Management lifted its holdings in Rayonier Advanced Materials by 197.7% during the 3rd quarter. LSV Asset Management now owns 638,000 shares of the basic materials company’s stock valued at $11,758,000 after purchasing an additional 423,700 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Rayonier Advanced Materials during the 3rd quarter valued at about $6,449,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

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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