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

Bank of New York Mellon Corp boosted its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 333,677 shares of the basic materials company’s stock after acquiring an additional 24,627 shares during the quarter. Bank of New York Mellon Corp owned 0.51% of Rayonier Advanced Materials worth $1,815,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RYAM. Simplicity Wealth LLC purchased a new position in shares of Rayonier Advanced Materials in the 1st quarter valued at about $59,000. Aristides Capital LLC acquired a new position in shares of Rayonier Advanced Materials in the 4th quarter valued at about $69,000. EntryPoint Capital LLC acquired a new position in shares of Rayonier Advanced Materials during the first quarter valued at $100,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Rayonier Advanced Materials in the first quarter worth $159,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Rayonier Advanced Materials during the 1st quarter valued at $219,000. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Trading Up 1.3 %

Rayonier Advanced Materials stock opened at $7.85 on Wednesday. The stock has a market capitalization of $514.77 million, a P/E ratio of -4.88 and a beta of 3.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.69. The stock 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 52 week low of $2.66 and a 52 week high of $8.00.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping 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 business had revenue of $419.00 million during the quarter, compared to analysts’ expectations of $407.10 million. During the same quarter in the prior year, the firm earned ($0.25) EPS. Analysts expect that Rayonier Advanced Materials Inc. will post -0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Rayonier Advanced Materials Company 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.