Bowen Hanes & Co. Inc. increased its holdings in shares of Rayonier Advanced Materials Inc (NYSE:RYAM) by 23.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,000,000 shares of the basic materials company’s stock after purchasing an additional 190,000 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Rayonier Advanced Materials were worth $18,430,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Rayonier Advanced Materials by 43.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,462,810 shares of the basic materials company’s stock valued at $42,089,000 after acquiring an additional 747,925 shares in the last quarter. BlackRock Inc. lifted its stake in Rayonier Advanced Materials by 9.9% in the 2nd quarter. BlackRock Inc. now owns 7,212,116 shares of the basic materials company’s stock valued at $123,254,000 after acquiring an additional 651,175 shares in the last quarter. LSV Asset Management lifted its stake in Rayonier Advanced Materials by 197.7% in the 3rd quarter. LSV Asset Management now owns 638,000 shares of the basic materials company’s stock valued at $11,758,000 after acquiring an additional 423,700 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Rayonier Advanced Materials in the 3rd quarter valued at approximately $6,449,000. Finally, Point72 Asset Management L.P. bought a new stake in Rayonier Advanced Materials in the 2nd quarter valued at approximately $5,685,000. Institutional investors and hedge funds own 99.86% of the company’s stock.

Several equities research analysts have commented on RYAM shares. Zacks Investment Research cut Rayonier Advanced Materials from a “buy” rating to a “strong sell” rating in a research note on Thursday, October 18th. Bank of America cut their target price on Rayonier Advanced Materials from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 15th. Finally, ValuEngine lowered Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.67.

In related news, Chairman Paul G. Boynton purchased 10,000 shares of the stock in a transaction on Monday, November 12th. The shares were purchased at an average price of $13.72 per share, with a total value of $137,200.00. Following the transaction, the chairman now directly owns 273,020 shares of the company’s stock, valued at $3,745,834.40. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 4,000 shares of company stock worth $68,320 in the last ninety days. Insiders own 2.23% of the company’s stock.

NYSE:RYAM opened at $13.85 on Wednesday. The company has a market cap of $703.11 million, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.40 and a beta of 3.56. Rayonier Advanced Materials Inc has a twelve month low of $11.65 and a twelve month high of $22.96. The company has a current ratio of 2.32, a quick ratio of 1.26 and a debt-to-equity ratio of 1.53.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). The company had revenue of $544.00 million for the quarter, compared to analyst estimates of $556.46 million. Rayonier Advanced Materials had a return on equity of 17.33% and a net margin of 21.00%. The firm’s revenue for the quarter was up 159.0% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Research analysts forecast that Rayonier Advanced Materials Inc will post 1.9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, December 14th. Rayonier Advanced Materials’s dividend payout ratio (DPR) is 28.87%.

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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, and Pulp & 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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Institutional Ownership by Quarter for Rayonier Advanced Materials (NYSE:RYAM)

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