Prudential Financial Inc. grew its holdings in shares of Rayonier Advanced Materials Inc (NYSE:RYAM) by 21.2% during the second quarter, HoldingsChannel reports. The firm owned 1,128,947 shares of the basic materials company’s stock after purchasing an additional 197,163 shares during the quarter. Prudential Financial Inc.’s holdings in Rayonier Advanced Materials were worth $7,327,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RYAM. Dimensional Fund Advisors LP lifted its position in Rayonier Advanced Materials by 19.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,578,683 shares of the basic materials company’s stock worth $38,112,000 after buying an additional 593,033 shares during the period. DDD Partners LLC acquired a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at $2,848,000. Hawkeye Capital Management LLC purchased a new stake in shares of Rayonier Advanced Materials during the 1st quarter valued at $3,625,000. Raymond James & Associates grew its stake in shares of Rayonier Advanced Materials by 61.9% during the 1st quarter. Raymond James & Associates now owns 320,314 shares of the basic materials company’s stock valued at $4,343,000 after buying an additional 122,502 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Rayonier Advanced Materials during the 2nd quarter valued at $708,000. 92.96% of the stock is currently owned by institutional investors.

RYAM stock traded up $0.36 during midday trading on Wednesday, reaching $4.61. 451,384 shares of the company’s stock traded hands, compared to its average volume of 987,009. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.00 and a quick ratio of 1.09. Rayonier Advanced Materials Inc has a fifty-two week low of $2.50 and a fifty-two week high of $22.07. The business has a 50-day moving average price of $3.73 and a two-hundred day moving average price of $8.73. The company has a market capitalization of $197.41 million, a P/E ratio of 2.73 and a beta of 3.69.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.17). Rayonier Advanced Materials had a return on equity of 1.70% and a net margin of 0.69%. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $497.01 million. During the same period in the previous year, the company earned $0.60 EPS. Rayonier Advanced Materials’s revenue was down 10.0% on a year-over-year basis. As a group, research analysts forecast that Rayonier Advanced Materials Inc will post -0.97 earnings per share for the current fiscal year.

Several research analysts recently weighed in on RYAM shares. Sidoti lowered Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Royal Bank of Canada set a $10.00 target price on Rayonier Advanced Materials and gave the company a “buy” rating in a report on Friday, August 9th. Bank of America lowered Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a research note on Thursday, August 8th. Zacks Investment Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, ValuEngine lowered Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $17.00.

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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Institutional Ownership by Quarter for Rayonier Advanced Materials (NYSE:RYAM)

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