Numerai GP LLC Reduces Stake in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Numerai GP LLC reduced its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 17.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,653 shares of the basic materials company’s stock after selling 4,679 shares during the period. Numerai GP LLC’s holdings in Rayonier Advanced Materials were worth $179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Rayonier Advanced Materials by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,970,285 shares of the basic materials company’s stock worth $32,754,000 after buying an additional 146,799 shares during the last quarter. Vanguard Group Inc. lifted its position in Rayonier Advanced Materials by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,735,408 shares of the basic materials company’s stock valued at $30,817,000 after purchasing an additional 26,402 shares in the last quarter. American Century Companies Inc. lifted its position in Rayonier Advanced Materials by 20.3% during the fourth quarter. American Century Companies Inc. now owns 2,169,320 shares of the basic materials company’s stock valued at $17,897,000 after purchasing an additional 366,009 shares in the last quarter. Renaissance Technologies LLC lifted its position in Rayonier Advanced Materials by 29.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,021,444 shares of the basic materials company’s stock valued at $16,677,000 after purchasing an additional 464,630 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Rayonier Advanced Materials by 2.9% during the fourth quarter. Federated Hermes Inc. now owns 1,140,573 shares of the basic materials company’s stock valued at $9,410,000 after purchasing an additional 32,227 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank of Canada lowered their target price on Rayonier Advanced Materials from $9.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. StockNews.com downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Thursday.

Rayonier Advanced Materials Price Performance

NYSE RYAM opened at $4.20 on Friday. The business’s fifty day moving average is $4.76 and its 200 day moving average is $6.87. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $10.28. The company has a market capitalization of $280.12 million, a PE ratio of -3.28 and a beta of 2.63. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, May 6th. The basic materials company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.35). Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. The business had revenue of $356.00 million during the quarter, compared to analysts’ expectations of $375.80 million. Sell-side analysts predict that Rayonier Advanced Materials Inc. will post -0.08 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.