JPMorgan Chase & Co. cut its stake in Rayonier Advanced Materials Inc (NYSE:RYAM) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 767,537 shares of the basic materials company’s stock after selling 120,074 shares during the period. JPMorgan Chase & Co.’s holdings in Rayonier Advanced Materials were worth $16,480,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Oaktree Capital Management LP purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $31,850,000. Restructuring Capital Associates LP purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $14,926,000. BlackRock Inc. increased its stake in shares of Rayonier Advanced Materials by 9.1% during the 4th quarter. BlackRock Inc. now owns 6,214,366 shares of the basic materials company’s stock worth $127,083,000 after purchasing an additional 520,554 shares in the last quarter. WBI Investments Inc. purchased a new position in shares of Rayonier Advanced Materials during the 1st quarter worth approximately $7,423,000. Finally, Linden Advisors LP increased its stake in shares of Rayonier Advanced Materials by 141.2% during the 4th quarter. Linden Advisors LP now owns 540,415 shares of the basic materials company’s stock worth $11,051,000 after purchasing an additional 316,336 shares in the last quarter. 92.38% of the stock is owned by institutional investors.
Get Rayonier Advanced Materials alerts:A number of research analysts have recently weighed in on the stock. Vertical Research raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Bank of America raised their price objective on shares of Rayonier Advanced Materials from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Zacks Investment Research raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Friday, May 11th. Finally, ValuEngine cut shares of Rayonier Advanced Materials from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Rayonier Advanced Materials currently has an average rating of “Buy” and a consensus target price of $21.00.
Shares of Rayonier Advanced Materials opened at $17.02 on Monday, according to Marketbeat.com. The company has a market cap of $882.80 million, a P/E ratio of 17.55, a PEG ratio of 0.44 and a beta of 3.43. Rayonier Advanced Materials Inc has a 1 year low of $12.68 and a 1 year high of $22.96. The company has a current ratio of 2.06, a quick ratio of 1.01 and a debt-to-equity ratio of 1.70.
Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Monday, May 7th. The basic materials company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The company had revenue of $522.00 million during the quarter, compared to analysts’ expectations of $522.14 million. Rayonier Advanced Materials had a net margin of 26.52% and a return on equity of 15.39%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. sell-side analysts anticipate that Rayonier Advanced Materials Inc will post 1.92 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, June 14th. Rayonier Advanced Materials’s payout ratio is currently 28.87%.
Rayonier Advanced Materials announced that its board has approved a share repurchase plan on Tuesday, February 20th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Rayonier Advanced Materials Company Profile
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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