Truist Financial Corp Takes $66,000 Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Truist Financial Corp acquired a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,076 shares of the basic materials company’s stock, valued at approximately $66,000.

Several other institutional investors have also added to or reduced their stakes in RYAM. Boston Partners lifted its position in shares of Rayonier Advanced Materials by 1,923.5% in the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock worth $10,307,000 after purchasing an additional 2,054,715 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Rayonier Advanced Materials by 471.8% during the 1st quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after buying an additional 1,648,101 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Rayonier Advanced Materials by 24.7% during the 2nd quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock worth $8,248,000 after buying an additional 300,793 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Rayonier Advanced Materials by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock valued at $19,576,000 after acquiring an additional 201,939 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Rayonier Advanced Materials by 30.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock valued at $3,429,000 after acquiring an additional 168,222 shares during the last quarter. 68.64% of the stock is owned by institutional investors.

Rayonier Advanced Materials Stock Down 1.7 %

Rayonier Advanced Materials stock opened at $7.98 on Monday. Rayonier Advanced Materials Inc. has a fifty-two week low of $2.66 and a fifty-two week high of $8.97. The firm has a market capitalization of $523.30 million, a PE ratio of -4.96 and a beta of 2.99. The company’s 50-day moving average is $7.95 and its 200-day moving average is $6.20. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. During the same quarter in the prior year, the company earned ($0.25) earnings per share. Sell-side analysts anticipate that Rayonier Advanced Materials Inc. will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on RYAM. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price objective on Rayonier Advanced Materials from $9.00 to $10.00 and gave the company 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.