Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) had its price objective decreased by analysts at Royal Bank of Canada from $7.00 to $6.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 83.21% from the company’s current price.
Several other analysts have also weighed in on RYAM. StockNews.com began coverage on Rayonier Advanced Materials in a report on Thursday, May 18th. They issued a “hold” rating for the company. Bank of America cut their price objective on Rayonier Advanced Materials from $4.40 to $4.00 in a report on Monday, July 10th.
Read Our Latest Stock Report on RYAM
Rayonier Advanced Materials Trading Up 0.8 %
Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) last released its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Rayonier Advanced Materials had a return on equity of 0.98% and a net margin of 1.05%. The company had revenue of $467.00 million during the quarter. Equities analysts predict that Rayonier Advanced Materials will post -0.14 earnings per share for the current year.
Insider Activity
In related news, SVP Joshua C. Hicks bought 10,000 shares of Rayonier Advanced Materials stock in a transaction dated Thursday, May 25th. The stock was acquired at an average cost of $3.96 per share, with a total value of $39,600.00. Following the completion of the acquisition, the senior vice president now directly owns 79,595 shares in the company, valued at approximately $315,196.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rayonier Advanced Materials news, Director Thomas I. Morgan acquired 12,195 shares of Rayonier Advanced Materials stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $4.11 per share, with a total value of $50,121.45. Following the purchase, the director now owns 86,603 shares in the company, valued at $355,938.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joshua C. Hicks acquired 10,000 shares of Rayonier Advanced Materials stock in a transaction that occurred on Thursday, May 25th. The stock was acquired at an average cost of $3.96 per share, with a total value of $39,600.00. Following the completion of the purchase, the senior vice president now owns 79,595 shares in the company, valued at approximately $315,196.20. The disclosure for this purchase can be found here. Insiders bought a total of 90,195 shares of company stock worth $391,501 over the last 90 days. 3.14% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Rayonier Advanced Materials by 23.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,285 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 1,965 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Rayonier Advanced Materials by 1.7% during the 4th quarter. Legal & General Group Plc now owns 135,658 shares of the basic materials company’s stock valued at $1,302,000 after acquiring an additional 2,290 shares during the last quarter. Advisor Partners II LLC increased its holdings in shares of Rayonier Advanced Materials by 16.8% during the 4th quarter. Advisor Partners II LLC now owns 17,612 shares of the basic materials company’s stock valued at $169,000 after acquiring an additional 2,534 shares during the last quarter. HRT Financial LP increased its holdings in shares of Rayonier Advanced Materials by 2.2% during the 1st quarter. HRT Financial LP now owns 121,408 shares of the basic materials company’s stock valued at $761,000 after acquiring an additional 2,640 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Rayonier Advanced Materials during the 4th quarter valued at about $31,000. 82.65% of the stock is owned by institutional investors and hedge funds.
About Rayonier Advanced Materials
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose, Paperboard, and High-Yield Pulp 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 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.
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