Rayonier Advanced Materials Inc. (RYAM) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) from a strong sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “
Several other research analysts have also recently commented on RYAM. Royal Bank Of Canada reaffirmed a buy rating and issued a $20.00 target price on shares of Rayonier Advanced Materials in a research report on Friday, November 3rd. Vertical Group raised Rayonier Advanced Materials from a hold rating to a buy rating and raised their target price for the stock from $18.00 to $19.00 in a research report on Tuesday, July 25th. BidaskClub cut Rayonier Advanced Materials from a hold rating to a sell rating in a research report on Thursday, July 27th. Vertical Research raised Rayonier Advanced Materials from a hold rating to a buy rating in a research report on Monday, July 24th. Finally, ValuEngine raised Rayonier Advanced Materials from a hold rating to a buy rating in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $18.83.
Shares of Rayonier Advanced Materials (NYSE RYAM) traded down $0.10 during trading on Wednesday, hitting $16.76. 303,400 shares of the stock traded hands, compared to its average volume of 739,783. The firm has a market capitalization of $725.32, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 5.24 and a beta of 4.27. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.46. Rayonier Advanced Materials has a twelve month low of $11.88 and a twelve month high of $17.60.
Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $210.00 million for the quarter, compared to the consensus estimate of $200.66 million. Rayonier Advanced Materials had a net margin of 4.98% and a return on equity of 18.12%. Rayonier Advanced Materials’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. analysts anticipate that Rayonier Advanced Materials will post 0.64 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.67%. Rayonier Advanced Materials’s payout ratio is presently 43.75%.
In related news, Director Delyle W. Bloomquist acquired 5,600 shares of the business’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $13.48 per share, with a total value of $75,488.00. Following the completion of the acquisition, the director now owns 27,904 shares in the company, valued at $376,145.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.06% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Rayonier Advanced Materials by 6.3% in the first quarter. Vanguard Group Inc. now owns 6,896,195 shares of the basic materials company’s stock valued at $92,755,000 after buying an additional 409,971 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Rayonier Advanced Materials by 22.0% in the second quarter. Renaissance Technologies LLC now owns 3,892,500 shares of the basic materials company’s stock valued at $61,190,000 after buying an additional 701,200 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Rayonier Advanced Materials by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,527,856 shares of the basic materials company’s stock valued at $24,018,000 after buying an additional 116,572 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Rayonier Advanced Materials by 36.8% in the second quarter. Sterling Capital Management LLC now owns 1,441,411 shares of the basic materials company’s stock valued at $22,659,000 after buying an additional 387,674 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Rayonier Advanced Materials by 5.2% in the second quarter. State Street Corp now owns 1,132,046 shares of the basic materials company’s stock valued at $17,797,000 after buying an additional 56,453 shares during the last quarter. 93.19% of the stock is owned by 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.
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