Rayonier Advanced Materials (NYSE:RYAM) Upgraded by Zacks Investment Research to Hold
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. “
RYAM has been the subject of a number of other research reports. DA Davidson set a $40.00 target price on shares of Wolverine World Wide and gave the stock a buy rating in a research note on Friday, May 10th. TheStreet upgraded shares of White Mountains Insurance Group from a c rating to a b rating in a research note on Monday, May 13th. Finally, ValuEngine downgraded shares of Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Rayonier Advanced Materials has an average rating of Hold and a consensus price target of $19.33.
Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Wednesday, May 8th. The basic materials company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.66). The firm had revenue of $483.00 million for the quarter, compared to analyst estimates of $509.84 million. Rayonier Advanced Materials had a return on equity of 8.96% and a net margin of 3.96%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. As a group, research analysts expect that Rayonier Advanced Materials will post -0.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.16%. Rayonier Advanced Materials’s payout ratio is currently 16.57%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Rayonier Advanced Materials by 2.5% in the fourth quarter. BlackRock Inc. now owns 7,608,449 shares of the basic materials company’s stock valued at $81,030,000 after acquiring an additional 183,861 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Rayonier Advanced Materials by 19.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,578,683 shares of the basic materials company’s stock valued at $38,112,000 after acquiring an additional 593,033 shares in the last quarter. Marcato Capital Management LP boosted its stake in Rayonier Advanced Materials by 3.0% in the fourth quarter. Marcato Capital Management LP now owns 2,348,000 shares of the basic materials company’s stock valued at $25,007,000 after acquiring an additional 68,500 shares in the last quarter. LSV Asset Management boosted its stake in Rayonier Advanced Materials by 1.3% in the first quarter. LSV Asset Management now owns 1,823,208 shares of the basic materials company’s stock valued at $24,722,000 after acquiring an additional 23,050 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Rayonier Advanced Materials by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 537,528 shares of the basic materials company’s stock valued at $5,724,000 after acquiring an additional 27,946 shares in the last quarter. Institutional investors own 98.48% of the company’s stock.
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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