State Board of Administration of Florida Retirement System Lowers Stake in Rayonier Advanced Materials Inc. (RYAM)

State Board of Administration of Florida Retirement System lessened its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 25.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,469 shares of the basic materials company’s stock after selling 11,966 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Rayonier Advanced Materials worth $486,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Rayonier Advanced Materials by 6.3% in the first quarter. Vanguard Group Inc. now owns 6,896,195 shares of the basic materials company’s stock worth $92,755,000 after acquiring an additional 409,971 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Rayonier Advanced Materials by 22.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,892,500 shares of the basic materials company’s stock valued at $61,190,000 after purchasing an additional 701,200 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 116,572 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of 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 purchasing an additional 387,674 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of 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 purchasing an additional 56,453 shares in the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) traded up $0.09 on Wednesday, hitting $18.74. 432,839 shares of the company were exchanged, compared to its average volume of 550,975. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.46 and a quick ratio of 1.20. The stock has a market capitalization of $802.78, a price-to-earnings ratio of 29.92, a P/E/G ratio of 5.80 and a beta of 4.41. Rayonier Advanced Materials Inc. has a 12-month low of $11.88 and a 12-month high of $19.14.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Wednesday, November 1st. The basic materials company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $210.00 million during the quarter, compared to analyst estimates of $200.66 million. Rayonier Advanced Materials had a net margin of 4.98% and a return on equity of 18.12%. Rayonier Advanced Materials’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. equities analysts anticipate that Rayonier Advanced Materials Inc. will post 0.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.49%. Rayonier Advanced Materials’s payout ratio is currently 43.75%.

A number of brokerages have recently issued reports on RYAM. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Rayonier Advanced Materials in a research report on Friday, November 3rd. Sidoti started coverage on shares of Rayonier Advanced Materials in a research note on Thursday, August 17th. They issued a “buy” rating and a $19.00 target price for the company. ValuEngine cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Zacks Investment Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, BidaskClub cut shares of Rayonier Advanced Materials from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $18.83.

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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.

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

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