Ridgepath Capital Management LLC Sells 25,000 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Ridgepath Capital Management LLC lessened its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 18.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,035 shares of the basic materials company’s stock after selling 25,000 shares during the period. Rayonier Advanced Materials makes up about 0.4% of Ridgepath Capital Management LLC’s investment portfolio, making the stock its 26th largest position. Ridgepath Capital Management LLC owned about 0.17% of Rayonier Advanced Materials worth $916,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Rayonier Advanced Materials by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock worth $19,576,000 after purchasing an additional 201,939 shares during the period. Marshall Wace LLP purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at $178,000. Cubist Systematic Strategies LLC bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth about $632,000. Quarry LP purchased a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth about $29,000. Finally, Truist Financial Corp purchased a new stake in Rayonier Advanced Materials in the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Wall Street Analysts Forecast Growth

RYAM has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Rayonier Advanced Materials Price Performance

Shares of NYSE:RYAM opened at $8.21 on Friday. The firm’s 50 day simple moving average is $8.06 and its 200-day simple moving average is $7.86. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. Rayonier Advanced Materials Inc. has a one year low of $3.15 and a one year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06. The business had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period in the prior year, the business earned ($0.41) EPS. Analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Insider Transactions at Rayonier Advanced Materials

In other news, Director Eric Bowen acquired 12,500 shares of Rayonier Advanced Materials stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $8.04 per share, for a total transaction of $100,500.00. Following the purchase, the director now directly owns 12,500 shares in the company, valued at $100,500. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.14% of the company’s stock.

Rayonier Advanced Materials Company 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.