Renaissance Technologies LLC Has $8.14 Million Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Renaissance Technologies LLC lifted its position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 7.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,496,142 shares of the basic materials company’s stock after purchasing an additional 101,128 shares during the quarter. Renaissance Technologies LLC’s holdings in Rayonier Advanced Materials were worth $8,139,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Rayonier Advanced Materials by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock valued at $19,576,000 after purchasing an additional 201,939 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Rayonier Advanced Materials by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock worth $16,334,000 after acquiring an additional 31,281 shares during the last quarter. Boston Partners lifted its position in Rayonier Advanced Materials by 1,923.5% in the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after acquiring an additional 2,054,715 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Rayonier Advanced Materials by 471.8% during the 1st 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 last quarter. Finally, CastleKnight Management LP increased its holdings in Rayonier Advanced Materials by 1,036.0% during the 4th quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock worth $7,950,000 after purchasing an additional 1,790,257 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Price Performance

Rayonier Advanced Materials stock opened at $8.61 on Wednesday. The stock has a market cap of $564.28 million, a P/E ratio of -5.34 and a beta of 3.00. The company has a quick ratio of 1.09, a current ratio of 1.69 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average price is $7.15 and its two-hundred day moving average price is $5.67. Rayonier Advanced Materials Inc. has a 52 week low of $2.66 and a 52 week high of $8.66.

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

Wall Street Analysts Forecast Growth

RYAM has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th.

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.