TIAA CREF Investment Management LLC decreased its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,226 shares of the basic materials company’s stock after selling 6,352 shares during the period. TIAA CREF Investment Management LLC’s holdings in Rayonier Advanced Materials were worth $1,577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RYAM. Karp Capital Management Corp bought a new stake in Rayonier Advanced Materials during the first quarter worth approximately $204,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Rayonier Advanced Materials by 12,929.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,652 shares of the basic materials company’s stock worth $1,125,000 after buying an additional 83,010 shares in the last quarter. Comerica Bank boosted its stake in Rayonier Advanced Materials by 3.6% in the first quarter. Comerica Bank now owns 48,828 shares of the basic materials company’s stock worth $644,000 after buying an additional 1,697 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Rayonier Advanced Materials by 3.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 41,328 shares of the basic materials company’s stock worth $556,000 after buying an additional 1,414 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Rayonier Advanced Materials by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 59,753 shares of the basic materials company’s stock worth $802,000 after buying an additional 3,852 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Shares of Rayonier Advanced Materials Inc. (RYAM) traded up 0.23% during mid-day trading on Friday, hitting $13.27. The stock had a trading volume of 62,070 shares. The firm has a market cap of $574.27 million, a price-to-earnings ratio of 15.95 and a beta of 4.28. The company has a 50-day moving average of $15.08 and a 200 day moving average of $14.16. Rayonier Advanced Materials Inc. has a one year low of $10.37 and a one year high of $17.60.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.26 by $0.15. Rayonier Advanced Materials had a return on equity of 24.17% and a net margin of 5.71%. The firm had revenue of $201 million during the quarter, compared to analyst estimates of $214 million. During the same period in the previous year, the company earned $0.46 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities research analysts forecast that Rayonier Advanced Materials Inc. will post $0.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, September 14th. Rayonier Advanced Materials’s payout ratio is currently 35.00%.

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A number of research firms recently commented on RYAM. Zacks Investment Research upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, July 20th. Royal Bank Of Canada lifted their price target on Rayonier Advanced Materials from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, May 30th. BidaskClub cut Rayonier Advanced Materials from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday. Finally, Bank of America Corporation upgraded Rayonier Advanced Materials from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, May 26th. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.80.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.

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Institutional Ownership by Quarter for Rayonier Advanced Materials (NYSE:RYAM)

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