Smith Asset Management Group LP Takes $146,000 Position in Rayonier Advanced Materials Inc. (RYAM)
Smith Asset Management Group LP acquired a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,630 shares of the basic materials company’s stock, valued at approximately $146,000.
Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in Rayonier Advanced Materials by 15.9% during the 1st quarter. State Street Corp now owns 1,075,593 shares of the basic materials company’s stock worth $14,465,000 after purchasing an additional 147,343 shares in the last quarter. Skylands Capital LLC acquired a new position in Rayonier Advanced Materials during the 3rd quarter worth approximately $1,366,000. Federated Investors Inc. PA increased its position in Rayonier Advanced Materials by 43.4% during the 2nd quarter. Federated Investors Inc. PA now owns 116,550 shares of the basic materials company’s stock worth $1,832,000 after purchasing an additional 35,272 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Rayonier Advanced Materials by 47.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 241,230 shares of the basic materials company’s stock worth $3,793,000 after acquiring an additional 77,993 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in Rayonier Advanced Materials during the 1st quarter worth approximately $370,000. Institutional investors and hedge funds own 93.19% of the company’s stock.
RYAM has been the topic of a number of research reports. Royal Bank Of Canada reissued a “buy” rating and set a $18.00 target price on shares of Rayonier Advanced Materials in a report on Monday, August 21st. Sidoti initiated coverage on shares of Rayonier Advanced Materials in a report on Thursday, August 17th. They set a “buy” rating and a $19.00 target price on the stock. Vertical Group raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $19.00 in a report on Tuesday, July 25th. Zacks Investment Research lowered shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Vertical Research raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Rayonier Advanced Materials currently has an average rating of “Buy” and a consensus target price of $18.83.
In other Rayonier Advanced Materials news, Director Delyle W. Bloomquist acquired 5,600 shares of the company’s stock in a transaction on Monday, August 14th. The stock was acquired at an average price of $13.48 per share, for a total transaction of $75,488.00. Following the purchase, the director now directly owns 27,904 shares of the company’s stock, valued at $376,145.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.06% of the stock is owned by insiders.
Shares of Rayonier Advanced Materials Inc. (NYSE RYAM) opened at $16.76 on Friday. The company has a market cap of $729.65, a price-to-earnings ratio of 27.19, a PEG ratio of 5.27 and a beta of 4.27. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.46 and a quick ratio of 1.20. Rayonier Advanced Materials Inc. has a 12 month low of $11.88 and a 12 month high of $17.60.
Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Wednesday, November 1st. The basic materials company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Rayonier Advanced Materials had a net margin of 4.98% and a return on equity of 18.12%. The business had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $200.66 million. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s revenue was up 1.4% on a year-over-year basis. sell-side analysts anticipate that Rayonier Advanced Materials Inc. will post 0.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, December 14th. Rayonier Advanced Materials’s dividend payout ratio (DPR) is 43.75%.
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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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