Bank of New York Mellon Corp Raises Stock Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Bank of New York Mellon Corp raised its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,677 shares of the basic materials company’s stock after purchasing an additional 24,627 shares during the period. Bank of New York Mellon Corp’s holdings in Rayonier Advanced Materials were worth $1,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Rayonier Advanced Materials by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock valued at $16,334,000 after purchasing an additional 31,281 shares in the last quarter. Boston Partners increased its holdings in shares of Rayonier Advanced Materials by 1,923.5% during the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after acquiring an additional 2,054,715 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Rayonier Advanced Materials by 471.8% in the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock valued at $9,548,000 after buying an additional 1,648,101 shares during the last quarter. CastleKnight Management LP raised its position in Rayonier Advanced Materials by 1,036.0% during the fourth quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock valued at $7,950,000 after acquiring an additional 1,790,257 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Rayonier Advanced Materials by 30.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock valued at $3,429,000 after acquiring an additional 168,222 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RYAM. StockNews.com upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price target on shares of Rayonier Advanced Materials from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th.

Rayonier Advanced Materials Stock Performance

NYSE:RYAM opened at $7.85 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09. The firm has a market cap of $514.77 million, a PE ratio of -4.88 and a beta of 3.00. The firm has a 50 day simple moving average of $6.88 and a 200-day simple moving average of $5.52. Rayonier Advanced Materials Inc. has a 1-year low of $2.66 and a 1-year high of $8.00.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. The firm had revenue of $419.00 million during the quarter, compared to analyst estimates of $407.10 million. During the same quarter last year, the firm earned ($0.25) EPS. On average, equities analysts expect that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current year.

Rayonier Advanced Materials Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company's products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.