Bank of New York Mellon Corp Invests $1.54 Million in Rayonier Advanced Materials Inc. $RYAM

Bank of New York Mellon Corp bought a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 196,211 shares of the basic materials company's stock, valued at approximately $1,542,000. Bank of New York Mellon Corp owned 0.29% of Rayonier Advanced Materials as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Osaic Holdings Inc. lifted its position in shares of Rayonier Advanced Materials by 754.4% in the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company's stock valued at $31,000 after buying an additional 7,031 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $76,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $86,000. Ancora Advisors LLC acquired a new position in shares of Rayonier Advanced Materials during the 3rd quarter worth approximately $138,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $117,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on RYAM. Zacks Research raised Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. Wall Street Zen raised shares of Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada cut their target price on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Rayonier Advanced Materials has a consensus rating of "Hold" and a consensus target price of $13.00.

Rayonier Advanced Materials Stock Down 0.4%

Shares of NYSE RYAM opened at $8.51 on Thursday. The company has a market cap of $575.55 million, a price-to-earnings ratio of -4.05 and a beta of 1.76. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 3.83. Rayonier Advanced Materials Inc. has a 12 month low of $5.38 and a 12 month high of $11.85. The stock has a 50-day moving average price of $8.33 and a two-hundred day moving average price of $9.05.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.08). The company had revenue of $376.14 million during the quarter, compared to analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative net margin of 9.53% and a negative return on equity of 46.19%. As a group, analysts forecast that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current fiscal year.

Rayonier Advanced Materials Profile

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.

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