Rhumbline Advisers Has $731,000 Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Rhumbline Advisers reduced its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,075 shares of the basic materials company’s stock after selling 4,469 shares during the quarter. Rhumbline Advisers owned about 0.19% of Rayonier Advanced Materials worth $731,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in RYAM. Ieq Capital LLC acquired a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $83,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $418,000. Victory Capital Management Inc. bought a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $238,000. Aigen Investment Management LP bought a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $124,000. Finally, Counterpoint Mutual Funds LLC lifted its stake in shares of Rayonier Advanced Materials by 192.2% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 87,880 shares of the basic materials company’s stock valued at $725,000 after buying an additional 57,809 shares during the period. 68.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Delyle W. Bloomquist bought 63,291 shares of the stock in a transaction dated Friday, May 16th. The shares were acquired at an average price of $3.95 per share, with a total value of $249,999.45. Following the acquisition, the chief executive officer now owns 486,024 shares in the company, valued at $1,919,794.80. This trade represents a 14.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.41% of the company’s stock.

Rayonier Advanced Materials Stock Up 0.6%

NYSE RYAM opened at $3.89 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.89 and a current ratio of 1.41. The firm has a 50-day simple moving average of $4.08 and a 200 day simple moving average of $6.00. Rayonier Advanced Materials Inc. has a twelve month low of $3.45 and a twelve month high of $10.28. The stock has a market cap of $259.44 million, a PE ratio of -3.67 and a beta of 2.51.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, May 6th. The basic materials company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.35). The business had revenue of $356.00 million for the quarter, compared to the consensus estimate of $375.80 million. Rayonier Advanced Materials had a negative return on equity of 4.71% and a negative net margin of 4.38%. On average, research analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RYAM. Wall Street Zen cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Royal Bank Of Canada reduced their target price on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th.

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.