BidaskClub downgraded shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) from a hold rating to a sell rating in a report released on Thursday morning.

RYAM has been the topic of several other reports. Zacks Investment Research raised shares of Rayonier Advanced Materials from a hold rating to a buy rating and set a $17.00 target price on the stock in a research note on Thursday, July 20th. Royal Bank Of Canada increased their target price on shares of Rayonier Advanced Materials from $16.00 to $20.00 and gave the stock an outperform rating in a research note on Tuesday, May 30th. Bank of America Corporation raised shares of Rayonier Advanced Materials from a neutral rating to a buy rating and set a $20.00 target price on the stock in a research note on Friday, May 26th. Vertical Research raised shares of Rayonier Advanced Materials from a hold rating to a buy rating and set a $18.00 target price on the stock in a research note on Friday, May 26th. Finally, Vertical Group raised shares of Rayonier Advanced Materials from a hold rating to a buy rating and increased their target price for the stock from $18.00 to $19.00 in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Rayonier Advanced Materials has an average rating of Buy and an average target price of $19.33.

Shares of Rayonier Advanced Materials (NYSE RYAM) traded up 0.74% during trading on Thursday, hitting $14.95. The stock had a trading volume of 205,015 shares. The firm has a market cap of $646.15 million, a P/E ratio of 11.99 and a beta of 4.32. The firm has a 50 day moving average price of $15.64 and a 200 day moving average price of $14.27. Rayonier Advanced Materials has a 12-month low of $10.37 and a 12-month high of $17.60.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Monday, May 1st. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.02. Rayonier Advanced Materials had a return on equity of 37.41% and a net margin of 7.27%. The firm had revenue of $201 million for the quarter, compared to analysts’ expectations of $200.28 million. During the same period in the previous year, the company earned $0.36 earnings per share. The company’s revenue was down 7.8% compared to the same quarter last year. On average, equities analysts expect that Rayonier Advanced Materials will post $0.89 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, September 14th. Rayonier Advanced Materials’s dividend payout ratio is presently 22.76%.

A number of hedge funds and other institutional investors have recently modified their holdings of RYAM. Spark Investment Management LLC bought a new position in shares of Rayonier Advanced Materials during the first quarter worth $3,304,000. Acadian Asset Management LLC bought a new position in shares of Rayonier Advanced Materials during the first quarter worth $1,294,000. Russell Investments Group Ltd. bought a new position in shares of Rayonier Advanced Materials during the fourth quarter worth $504,000. Dimensional Fund Advisors LP raised its position in shares of Rayonier Advanced Materials by 47.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,739 shares of the basic materials company’s stock worth $17,559,000 after buying an additional 367,613 shares in the last quarter. Finally, Highbridge Capital Management LLC raised its position in shares of Rayonier Advanced Materials by 38.9% in the first quarter. Highbridge Capital Management LLC now owns 109,905 shares of the basic materials company’s stock worth $1,478,000 after buying an additional 30,788 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.

Analyst Recommendations for Rayonier Advanced Materials (NYSE:RYAM)

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