Rayonier Advanced Materials (RYAM) Upgraded to “Strong-Buy” at ValuEngine
ValuEngine upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a buy rating to a strong-buy rating in a report published on Thursday morning.
Other research analysts have also issued reports about the stock. TheStreet upgraded shares of Rayonier Advanced Materials from a c rating to a b rating in a report on Wednesday, December 13th. Bank of America upped their price objective on shares of Rayonier Advanced Materials from $23.00 to $25.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Royal Bank of Canada restated a buy rating and issued a $20.00 price objective on shares of Rayonier Advanced Materials in a report on Friday, November 3rd. Vertical Research lowered shares of Rayonier Advanced Materials from a buy rating to a hold rating in a report on Thursday, January 4th. Finally, Zacks Investment Research upgraded shares of Rayonier Advanced Materials from a strong sell rating to a hold rating in a report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $20.83.
Rayonier Advanced Materials (NYSE:RYAM) opened at $21.37 on Thursday. The company has a quick ratio of 1.12, a current ratio of 2.10 and a debt-to-equity ratio of 1.78. Rayonier Advanced Materials has a 12 month low of $11.88 and a 12 month high of $21.44. The company has a market cap of $1,104.44, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 2.44 and a beta of 3.69.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.31%. Rayonier Advanced Materials’s payout ratio is 5.12%.
Rayonier Advanced Materials declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 20th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
Institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP increased its stake in shares of Rayonier Advanced Materials by 1,613.9% in the 3rd quarter. Quantbot Technologies LP now owns 10,129 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 9,538 shares in the last quarter. Smith Asset Management Group LP purchased a new stake in Rayonier Advanced Materials during the 3rd quarter valued at about $146,000. Crossmark Global Holdings Inc. purchased a new stake in Rayonier Advanced Materials during the 3rd quarter valued at about $176,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Rayonier Advanced Materials during the 3rd quarter valued at about $186,000. Finally, Trexquant Investment LP purchased a new stake in Rayonier Advanced Materials during the 3rd quarter valued at about $217,000. Institutional investors own 95.13% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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