Principal Financial Group Inc. Sells 4,666 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Posted by Defense World Staff on Sep 5th, 2023

Principal Financial Group Inc. lessened its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM – Free Report) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 385,698 shares of the basic materials company’s stock after selling 4,666 shares during the quarter. Principal Financial Group Inc. owned 0.59% of Rayonier Advanced Materials worth $2,418,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in shares of Rayonier Advanced Materials in the first quarter valued at about $34,000. Bank of New York Mellon Corp boosted its position in shares of Rayonier Advanced Materials by 14.5% in the first quarter. Bank of New York Mellon Corp now owns 636,327 shares of the basic materials company’s stock valued at $3,990,000 after acquiring an additional 80,743 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Rayonier Advanced Materials in the first quarter valued at about $291,000. Barclays PLC boosted its position in shares of Rayonier Advanced Materials by 841.1% in the first quarter. Barclays PLC now owns 285,588 shares of the basic materials company’s stock valued at $1,791,000 after acquiring an additional 255,243 shares during the period. Finally, Jump Financial LLC lifted its position in Rayonier Advanced Materials by 159.6% during the first quarter. Jump Financial LLC now owns 105,400 shares of the basic materials company’s stock worth $661,000 after purchasing an additional 64,800 shares during the period. Institutional investors own 79.68% of the company’s stock.

Rayonier Advanced Materials Stock Up 0.6 %

RYAM stock opened at $3.55 on Tuesday. The stock has a market capitalization of $231.96 million, a P/E ratio of 13.65 and a beta of 3.20. The company has a current ratio of 1.56, a quick ratio of 1.02 and a debt-to-equity ratio of 0.92. Rayonier Advanced Materials Inc. has a 12 month low of $2.84 and a 12 month high of $9.84. The firm has a 50-day moving average price of $4.04 and a 200-day moving average price of $4.96.

Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) last posted its earnings results on Tuesday, August 8th. The basic materials company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). Rayonier Advanced Materials had a return on equity of 0.98% and a net margin of 1.05%. The company had revenue of $385.00 million during the quarter. As a group, equities research analysts anticipate that Rayonier Advanced Materials Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Rayonier Advanced Materials from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 10th. StockNews.com cut shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Bank of America cut their price objective on shares of Rayonier Advanced Materials from $4.40 to $4.00 in a research report on Monday, July 10th.

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Rayonier Advanced Materials Profile

(Free Report)

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.