Rhumbline Advisers Sells 15,703 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Rhumbline Advisers reduced its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 7.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,021 shares of the basic materials company’s stock after selling 15,703 shares during the quarter. Rhumbline Advisers owned about 0.31% of Rayonier Advanced Materials worth $1,331,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in shares of Rayonier Advanced Materials by 188.4% in the second quarter. GSA Capital Partners LLP now owns 50,179 shares of the basic materials company’s stock valued at $336,000 after acquiring an additional 32,777 shares during the period. Victory Capital Management Inc. boosted its position in shares of Rayonier Advanced Materials by 36.3% in the second quarter. Victory Capital Management Inc. now owns 21,748 shares of the basic materials company’s stock valued at $145,000 after acquiring an additional 5,793 shares during the period. Carolina Wealth Advisors LLC bought a new position in shares of Rayonier Advanced Materials in the second quarter valued at approximately $104,000. Jackson Creek Investment Advisors LLC bought a new position in shares of Rayonier Advanced Materials in the first quarter valued at approximately $973,000. Finally, Millennium Management LLC boosted its position in shares of Rayonier Advanced Materials by 82.7% in the first quarter. Millennium Management LLC now owns 148,776 shares of the basic materials company’s stock valued at $1,349,000 after acquiring an additional 67,362 shares during the period. Institutional investors own 72.87% of the company’s stock.

Shares of Rayonier Advanced Materials stock opened at $7.37 on Friday. The firm has a market cap of $469.74 million, a PE ratio of 3.60, a PEG ratio of 2.21 and a beta of 3.74. Rayonier Advanced Materials Inc. has a 1 year low of $3.00 and a 1 year high of $11.30. The company has a 50 day simple moving average of $6.83 and a two-hundred day simple moving average of $7.78. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.87 and a quick ratio of 2.29.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Monday, August 2nd. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.60). The business had revenue of $341.00 million for the quarter. Rayonier Advanced Materials had a return on equity of 1.13% and a net margin of 7.65%. As a group, research analysts anticipate that Rayonier Advanced Materials Inc. will post 1.45 earnings per share for the current year.

RYAM has been the subject of several research analyst reports. Royal Bank of Canada upgraded shares of Rayonier Advanced Materials from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $9.00 to $10.00 in a research report on Thursday, August 5th. Zacks Investment Research lowered shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research report on Thursday, August 26th.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc engages in the production and sale of cellulose products, which is a natural polymer commonly used in the production of cell phone and computer screens, filters, and pharmaceuticals. It operates through the following segments: High Purity Cellulose, Forest Products, Paperboard, Pulp and Newsprint, and Corporate.

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

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