Renaissance Technologies LLC Lowers Position in Rayonier Advanced Materials Inc. $RYAM

Renaissance Technologies LLC lessened its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,625,314 shares of the basic materials company’s stock after selling 213,338 shares during the period. Renaissance Technologies LLC owned approximately 2.41% of Rayonier Advanced Materials worth $17,992,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RYAM. Osaic Holdings Inc. lifted its stake in shares of Rayonier Advanced Materials by 754.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 7,031 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth about $76,000. Dynamic Technology Lab Private Ltd bought a new position in Rayonier Advanced Materials during the 4th quarter valued at about $86,000. Balyasny Asset Management L.P. bought a new position in shares of Rayonier Advanced Materials during the fourth quarter valued at approximately $117,000. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Rayonier Advanced Materials by 39.5% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 5,721 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Stock Performance

NYSE:RYAM opened at $8.96 on Friday. The company has a 50 day moving average price of $8.25 and a 200 day moving average price of $8.96. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $11.85. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a market capitalization of $604.60 million, a P/E ratio of -1.27 and a beta of 1.78.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. The business had revenue of $319.06 million during the quarter, compared to analysts’ expectations of $302.63 million. Equities research analysts forecast that Rayonier Advanced Materials Inc. will post -1.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on RYAM. Zacks Research lowered shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. Royal Bank Of Canada dropped their target price on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rayonier Advanced Materials presently has an average rating of “Reduce” and a consensus price target of $13.00.

Rayonier Advanced Materials Profile

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.