AQR Capital Management LLC Decreases Stake in Rayonier Advanced Materials Inc. (NYSE:RYAM)

AQR Capital Management LLC decreased its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 42.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 725,260 shares of the basic materials company’s stock after selling 542,576 shares during the quarter. AQR Capital Management LLC owned about 1.10% of Rayonier Advanced Materials worth $3,945,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RYAM. Mercer Global Advisors Inc. ADV purchased a new stake in Rayonier Advanced Materials during the 2nd quarter valued at about $61,000. Rhumbline Advisers increased its holdings in shares of Rayonier Advanced Materials by 14.3% in the second quarter. Rhumbline Advisers now owns 149,490 shares of the basic materials company’s stock valued at $813,000 after purchasing an additional 18,754 shares during the last quarter. Empowered Funds LLC lifted its position in Rayonier Advanced Materials by 8.2% during the first quarter. Empowered Funds LLC now owns 258,558 shares of the basic materials company’s stock worth $1,236,000 after buying an additional 19,567 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Rayonier Advanced Materials during the first quarter worth $100,000. Finally, Bank of New York Mellon Corp grew its holdings in Rayonier Advanced Materials by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 333,677 shares of the basic materials company’s stock valued at $1,815,000 after buying an additional 24,627 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Advanced Materials Stock Up 2.2 %

Rayonier Advanced Materials stock opened at $8.79 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.69. The firm has a 50 day moving average price of $7.56 and a 200 day moving average price of $5.92. Rayonier Advanced Materials Inc. has a fifty-two week low of $2.66 and a fifty-two week high of $8.92. The company has a market capitalization of $579.17 million, a PE ratio of -5.46 and a beta of 2.99.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.26. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. The firm had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. During the same quarter in the previous year, the business earned ($0.25) EPS. Research analysts expect that Rayonier Advanced Materials Inc. will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

RYAM has been the topic of a number of recent analyst reports. StockNews.com upgraded 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 Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th.

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.