Rhumbline Advisers Acquires 18,754 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Rhumbline Advisers boosted its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 14.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,490 shares of the basic materials company’s stock after acquiring an additional 18,754 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of Rayonier Advanced Materials worth $813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Rayonier Advanced Materials by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock valued at $16,334,000 after purchasing an additional 31,281 shares during the period. Boston Partners raised its position in shares of Rayonier Advanced Materials by 1,923.5% in the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after purchasing an additional 2,054,715 shares during the period. Russell Investments Group Ltd. raised its position in shares of Rayonier Advanced Materials by 471.8% in the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock valued at $9,548,000 after purchasing an additional 1,648,101 shares during the period. CastleKnight Management LP raised its position in shares of Rayonier Advanced Materials by 1,036.0% in the fourth quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock valued at $7,950,000 after purchasing an additional 1,790,257 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Rayonier Advanced Materials by 30.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock valued at $3,429,000 after purchasing an additional 168,222 shares during the period. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Trading Down 0.7 %

Shares of RYAM stock opened at $8.02 on Tuesday. Rayonier Advanced Materials Inc. has a 1 year low of $2.66 and a 1 year high of $8.39. The firm’s fifty day simple moving average is $7.09 and its 200 day simple moving average is $5.64. The firm has a market capitalization of $525.59 million, a P/E ratio of -4.98 and a beta of 3.00. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. The business had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. As a group, sell-side analysts predict that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their target price on shares of 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.