Rayonier Advanced Materials Inc. (NYSE:RYAM) Stock Position Lifted by ProShare Advisors LLC

ProShare Advisors LLC grew its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 49.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,030 shares of the basic materials company’s stock after acquiring an additional 5,932 shares during the quarter. ProShare Advisors LLC’s holdings in Rayonier Advanced Materials were worth $149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC increased its stake in Rayonier Advanced Materials by 127.0% during the fourth quarter. Millennium Management LLC now owns 846,678 shares of the basic materials company’s stock valued at $6,985,000 after purchasing an additional 473,723 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Rayonier Advanced Materials by 29.8% during the 4th quarter. Renaissance Technologies LLC now owns 2,021,444 shares of the basic materials company’s stock valued at $16,677,000 after buying an additional 464,630 shares during the last quarter. American Century Companies Inc. grew its position in shares of Rayonier Advanced Materials by 20.3% during the 4th quarter. American Century Companies Inc. now owns 2,169,320 shares of the basic materials company’s stock valued at $17,897,000 after buying an additional 366,009 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Rayonier Advanced Materials by 66.8% during the fourth quarter. JPMorgan Chase & Co. now owns 835,388 shares of the basic materials company’s stock worth $6,892,000 after acquiring an additional 334,497 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Rayonier Advanced Materials by 64.4% in the fourth quarter. AQR Capital Management LLC now owns 507,373 shares of the basic materials company’s stock worth $4,186,000 after acquiring an additional 198,709 shares during the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rayonier Advanced Materials

In other news, CEO Delyle W. Bloomquist bought 63,291 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average price of $3.95 per share, with a total value of $249,999.45. Following the completion of the purchase, the chief executive officer now directly owns 486,024 shares of the company’s stock, valued at $1,919,794.80. This represents a 14.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.41% of the company’s stock.

Rayonier Advanced Materials Stock Down 2.9%

Shares of Rayonier Advanced Materials stock opened at $3.74 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. Rayonier Advanced Materials Inc. has a 1-year low of $3.45 and a 1-year high of $10.28. The business’s fifty day moving average price is $4.43 and its two-hundred day moving average price is $6.44. The company has a market capitalization of $249.74 million, a P/E ratio of -2.92 and a beta of 2.63.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, May 6th. The basic materials company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.35). The company had revenue of $356.00 million during the quarter, compared to analyst estimates of $375.80 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. As a group, research analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Analyst Ratings Changes

RYAM has been the subject of several recent research reports. Royal Bank of Canada lowered their target price on Rayonier Advanced Materials from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Wall Street Zen cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th.

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.