OLD National Bancorp IN decreased its stake in Rayonier Advanced Materials Inc (NYSE:RYAM) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,174 shares of the basic materials company’s stock after selling 1,703 shares during the quarter. OLD National Bancorp IN’s holdings in Rayonier Advanced Materials were worth $382,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in Rayonier Advanced Materials by 248.1% in the first quarter. Meeder Asset Management Inc. now owns 1,852 shares of the basic materials company’s stock worth $25,000 after buying an additional 1,320 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Rayonier Advanced Materials during the first quarter worth about $26,000. Mackay Shields LLC purchased a new stake in shares of Rayonier Advanced Materials during the fourth quarter worth about $110,000. BNP Paribas Arbitrage SA grew its position in shares of Rayonier Advanced Materials by 162.1% during the first quarter. BNP Paribas Arbitrage SA now owns 11,683 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 7,225 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Rayonier Advanced Materials during the third quarter worth about $232,000. Institutional investors and hedge funds own 99.25% of the company’s stock.
RYAM has been the subject of several research analyst reports. DA Davidson cut their target price on Rayonier Advanced Materials to $18.00 and set a “buy” rating for the company in a research report on Friday, May 10th. TheStreet cut Rayonier Advanced Materials from a “b-” rating to a “c” rating in a research report on Monday. Finally, ValuEngine upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Rayonier Advanced Materials presently has an average rating of “Hold” and a consensus price target of $20.75.
Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.66). The company had revenue of $483.00 million during the quarter, compared to the consensus estimate of $509.84 million. Rayonier Advanced Materials had a net margin of 3.96% and a return on equity of 8.96%. Rayonier Advanced Materials’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, research analysts anticipate that Rayonier Advanced Materials Inc will post -0.03 EPS for the current year.
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Rayonier Advanced Materials Profile
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper 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 cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
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