Rayonier Advanced Materials Inc. (RYAM) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. lessened its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,598 shares of the basic materials company’s stock after selling 6,233 shares during the quarter. Principal Financial Group Inc. owned about 0.82% of Rayonier Advanced Materials worth $5,496,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in shares of Rayonier Advanced Materials by 77.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,482 shares of the basic materials company’s stock valued at $133,000 after buying an additional 3,702 shares during the period. Mason Street Advisors LLC raised its stake in Rayonier Advanced Materials by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 10,118 shares of the basic materials company’s stock worth $136,000 after buying an additional 663 shares during the period. GW&K Investment Management LLC acquired a new position in Rayonier Advanced Materials during the 2nd quarter worth approximately $181,000. Karp Capital Management Corp acquired a new position in Rayonier Advanced Materials during the 1st quarter worth approximately $204,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Rayonier Advanced Materials during the 1st quarter worth approximately $198,000. 93.47% of the stock is currently owned by institutional investors.
In other Rayonier Advanced Materials news, Director Delyle W. Bloomquist bought 5,600 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of $13.48 per share, for a total transaction of $75,488.00. Following the acquisition, the director now owns 27,904 shares in the company, valued at approximately $376,145.92. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.14% of the company’s stock.
Shares of Rayonier Advanced Materials Inc. (RYAM) opened at 13.67 on Tuesday. Rayonier Advanced Materials Inc. has a 12-month low of $11.87 and a 12-month high of $17.60. The firm has a market cap of $591.58 million, a price-to-earnings ratio of 16.43 and a beta of 4.27. The company has a 50 day moving average of $13.67 and a 200-day moving average of $14.15.
Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.15). The firm had revenue of $201.00 million during the quarter, compared to the consensus estimate of $214.00 million. Rayonier Advanced Materials had a return on equity of 24.17% and a net margin of 5.71%. Rayonier Advanced Materials’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. Analysts predict that Rayonier Advanced Materials Inc. will post $0.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.05%. The ex-dividend date was Thursday, September 14th. Rayonier Advanced Materials’s dividend payout ratio is currently 35.00%.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, July 20th. BidaskClub downgraded Rayonier Advanced Materials from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. ValuEngine upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Vertical Research raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Vertical Group raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating and upped their target price for the stock from $18.00 to $19.00 in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. Rayonier Advanced Materials currently has a consensus rating of “Buy” and an average target price of $18.50.
Rayonier Advanced Materials Company Profile
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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