Public Employees Retirement System of Ohio Trims Stock Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Public Employees Retirement System of Ohio reduced its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,584 shares of the basic materials company’s stock after selling 5,132 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.11% of Rayonier Advanced Materials worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RYAM. JPMorgan Chase & Co. increased its position in Rayonier Advanced Materials by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 101,636 shares of the basic materials company’s stock valued at $669,000 after purchasing an additional 3,718 shares during the period. American Century Companies Inc. grew its position in shares of Rayonier Advanced Materials by 29.4% in the 1st quarter. American Century Companies Inc. now owns 379,995 shares of the basic materials company’s stock worth $2,497,000 after buying an additional 86,424 shares during the period. Citigroup Inc. grew its position in shares of Rayonier Advanced Materials by 11.7% in the 1st quarter. Citigroup Inc. now owns 53,131 shares of the basic materials company’s stock worth $349,000 after buying an additional 5,556 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Rayonier Advanced Materials by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,947 shares of the basic materials company’s stock worth $361,000 after buying an additional 6,774 shares during the period. Finally, BlackRock Inc. grew its position in shares of Rayonier Advanced Materials by 0.3% in the 1st quarter. BlackRock Inc. now owns 9,971,477 shares of the basic materials company’s stock worth $65,513,000 after buying an additional 28,169 shares during the period. 68.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th.

Rayonier Advanced Materials Trading Up 5.8 %

Rayonier Advanced Materials stock opened at $4.77 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.98 and a debt-to-equity ratio of 1.01. Rayonier Advanced Materials Inc. has a 12-month low of $2.66 and a 12-month high of $6.47. The firm has a 50 day moving average of $4.26 and a 200 day moving average of $3.70. The firm has a market capitalization of $312.63 million, a price-to-earnings ratio of -3.04 and a beta of 2.99.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, February 27th. The basic materials company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.16). The business had revenue of $422.00 million during the quarter, compared to analysts’ expectations of $442.40 million. Rayonier Advanced Materials had a negative net margin of 6.15% and a negative return on equity of 6.80%. As a group, research analysts predict that Rayonier Advanced Materials Inc. will post -0.34 earnings per share for the current year.

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.