American Century Companies Inc. Acquires 300,793 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

American Century Companies Inc. increased its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 24.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,516,198 shares of the basic materials company’s stock after purchasing an additional 300,793 shares during the period. American Century Companies Inc. owned approximately 2.31% of Rayonier Advanced Materials worth $8,248,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Aristides Capital LLC bought a new stake in Rayonier Advanced Materials during the fourth quarter worth about $69,000. EntryPoint Capital LLC purchased a new stake in Rayonier Advanced Materials in the first quarter worth approximately $100,000. Allspring Global Investments Holdings LLC grew its position in Rayonier Advanced Materials by 4,134.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 27,566 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 26,915 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Rayonier Advanced Materials in the 1st quarter worth approximately $159,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Rayonier Advanced Materials in the 1st quarter worth approximately $219,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Stock Performance

NYSE:RYAM opened at $8.02 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.69. Rayonier Advanced Materials Inc. has a fifty-two week low of $2.66 and a fifty-two week high of $8.39. The business has a 50 day moving average price of $7.09 and a 200-day moving average price of $5.64. The firm has a market cap of $525.59 million, a PE ratio of -4.98 and a beta of 3.00.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly 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. The business had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. During the same quarter last year, the firm earned ($0.25) EPS. Equities research analysts predict that Rayonier Advanced Materials Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada lifted their price objective on Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th.

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.