Federated Hermes Inc. Boosts Stock Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Federated Hermes Inc. increased its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 0.2% during the 2nd quarter, Holdings Channel reports. The firm owned 1,105,772 shares of the basic materials company’s stock after buying an additional 2,088 shares during the period. Federated Hermes Inc.’s holdings in Rayonier Advanced Materials were worth $6,015,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Rayonier Advanced Materials by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock worth $16,334,000 after buying an additional 31,281 shares during the period. Boston Partners raised its holdings in shares of Rayonier Advanced Materials by 1,923.5% during the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after acquiring an additional 2,054,715 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Rayonier Advanced Materials by 471.8% in the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after acquiring an additional 1,648,101 shares during the period. CastleKnight Management LP lifted its stake in Rayonier Advanced Materials by 1,036.0% in the fourth quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock worth $7,950,000 after acquiring an additional 1,790,257 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Rayonier Advanced Materials by 24.7% in the second quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock valued at $8,248,000 after acquiring an additional 300,793 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RYAM shares. StockNews.com raised 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 raised their price objective on shares of Rayonier Advanced Materials from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th.

Rayonier Advanced Materials Price Performance

Shares of RYAM stock opened at $7.80 on Thursday. The business’s fifty day moving average is $6.93 and its 200 day moving average is $5.54. The company has a quick ratio of 1.09, a current ratio of 1.69 and a debt-to-equity ratio of 1.00. The stock has a market cap of $511.49 million, a price-to-earnings ratio of -4.84 and a beta of 3.00. Rayonier Advanced Materials Inc. has a twelve month low of $2.66 and a twelve month high of $8.15.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.26. The firm had revenue of $419.00 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned ($0.25) EPS. Research analysts expect that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current fiscal year.

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.