American Century Companies Inc. Acquires 255,784 Shares of Rayonier Advanced Materials Inc. $RYAM

American Century Companies Inc. grew its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 11.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,425,104 shares of the basic materials company’s stock after buying an additional 255,784 shares during the quarter. American Century Companies Inc. owned approximately 3.63% of Rayonier Advanced Materials worth $13,944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in Rayonier Advanced Materials during the 1st quarter worth about $34,000. Royce & Associates LP bought a new stake in Rayonier Advanced Materials during the 1st quarter worth about $103,000. Walleye Capital LLC bought a new stake in Rayonier Advanced Materials during the 4th quarter worth about $113,000. Hsbc Holdings PLC raised its holdings in shares of Rayonier Advanced Materials by 36.6% in the 4th quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 3,852 shares during the period. Finally, Saxon Interests Inc. acquired a new stake in Rayonier Advanced Materials in the 1st quarter valued at about $117,000. 68.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RYAM has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Zacks Research upgraded Rayonier Advanced Materials to a “strong sell” rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada decreased their target price on Rayonier Advanced Materials from $9.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rayonier Advanced Materials currently has a consensus rating of “Hold” and an average target price of $6.00.

Rayonier Advanced Materials Stock Down 3.4%

Rayonier Advanced Materials stock opened at $5.38 on Tuesday. The stock has a market cap of $360.46 million, a P/E ratio of -0.81 and a beta of 2.49. The company has a quick ratio of 0.83, a current ratio of 1.45 and a debt-to-equity ratio of 2.10. Rayonier Advanced Materials Inc. has a twelve month low of $3.35 and a twelve month high of $10.28. The company’s 50-day moving average price is $4.29 and its two-hundred day moving average price is $4.83.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, August 5th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The company had revenue of $340.00 million during the quarter, compared to the consensus estimate of $387.07 million. Rayonier Advanced Materials had a negative net margin of 29.23% and a negative return on equity of 12.11%. As a group, analysts expect that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Delyle W. Bloomquist purchased 53,533 shares of the stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $4.71 per share, with a total value of $252,140.43. Following the acquisition, the chief executive officer directly owned 539,557 shares in the company, valued at $2,541,313.47. The trade was a 11.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 4.41% of the stock is currently owned by corporate insiders.

About Rayonier Advanced Materials

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.