Rayonier Advanced Materials Inc (RYAM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in Rayonier Advanced Materials Inc (NYSE:RYAM) by 16.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,700 shares of the basic materials company’s stock after selling 9,700 shares during the quarter. New York State Common Retirement Fund owned 0.10% of Rayonier Advanced Materials worth $529,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RYAM. Quantamental Technologies LLC purchased a new position in Rayonier Advanced Materials in the 4th quarter valued at approximately $135,000. Sigma Planning Corp grew its position in shares of Rayonier Advanced Materials by 25.4% during the 4th quarter. Sigma Planning Corp now owns 14,392 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 2,913 shares in the last quarter. LPL Financial LLC grew its position in shares of Rayonier Advanced Materials by 5.5% during the 4th quarter. LPL Financial LLC now owns 14,988 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 786 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter valued at $207,000. Finally, Jane Street Group LLC purchased a new position in shares of Rayonier Advanced Materials during the 3rd quarter valued at $232,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:RYAM opened at $15.09 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.93 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $732.06 million, a P/E ratio of 8.93, a P/E/G ratio of 0.78 and a beta of 3.53. Rayonier Advanced Materials Inc has a 52-week low of $9.45 and a 52-week high of $22.07.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Wednesday, February 13th. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.16). The business had revenue of $526.00 million during the quarter, compared to the consensus estimate of $541.71 million. Rayonier Advanced Materials had a return on equity of 15.08% and a net margin of 6.05%. The business’s revenue for the quarter was up 50.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. Sell-side analysts predict that Rayonier Advanced Materials Inc will post 1.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, March 14th. Rayonier Advanced Materials’s dividend payout ratio is presently 16.57%.

Separately, ValuEngine upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “sell” rating in a research report on Friday, January 25th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $21.67.

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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, Pulp, and 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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Institutional Ownership by Quarter for Rayonier Advanced Materials (NYSE:RYAM)

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