Bank of New York Mellon Corp trimmed its holdings in shares of Rayonier Advanced Materials Inc (NYSE:RYAM) by 6.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 813,867 shares of the basic materials company’s stock after selling 53,507 shares during the period. Bank of New York Mellon Corp owned 1.88% of Rayonier Advanced Materials worth $11,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in Rayonier Advanced Materials by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,892,500 shares of the basic materials company’s stock worth $61,190,000 after purchasing an additional 701,200 shares during the period. Dimensional Fund Advisors LP boosted its position in Rayonier Advanced Materials by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,856 shares of the basic materials company’s stock valued at $24,018,000 after buying an additional 116,572 shares during the last quarter. Sterling Capital Management LLC boosted its position in Rayonier Advanced Materials by 36.8% in the 2nd quarter. Sterling Capital Management LLC now owns 1,441,411 shares of the basic materials company’s stock valued at $22,659,000 after buying an additional 387,674 shares during the last quarter. State Street Corp boosted its position in Rayonier Advanced Materials by 5.2% in the 2nd quarter. State Street Corp now owns 1,132,046 shares of the basic materials company’s stock valued at $17,797,000 after buying an additional 56,453 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Rayonier Advanced Materials by 7.9% in the 2nd quarter. Northern Trust Corp now owns 841,093 shares of the basic materials company’s stock valued at $13,222,000 after buying an additional 61,255 shares during the last quarter. 95.15% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $18.00 price objective on shares of Rayonier Advanced Materials in a research report on Friday, October 27th. ValuEngine cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Zacks Investment Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, TheStreet raised shares of Rayonier Advanced Materials from a “c” rating to a “b” rating in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $18.83.

Rayonier Advanced Materials Inc (NYSE:RYAM) opened at $19.97 on Monday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.46. Rayonier Advanced Materials Inc has a 12-month low of $11.88 and a 12-month high of $20.31. The company has a market cap of $1,030.00, a PE ratio of 36.98, a PEG ratio of 6.62 and a beta of 4.41.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Wednesday, November 1st. The basic materials company reported $0.18 EPS 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 for the quarter, compared to analysts’ expectations of $200.66 million. During the same quarter last year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. research analysts forecast that Rayonier Advanced Materials Inc will post 0.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.40%. Rayonier Advanced Materials’s payout ratio is 51.85%.

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Rayonier Advanced Materials Profile

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

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