Jane Street Group LLC Cuts Stock Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Jane Street Group LLC cut its position in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 51.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,710 shares of the basic materials company's stock after selling 89,983 shares during the period. Jane Street Group LLC owned approximately 0.13% of Rayonier Advanced Materials worth $699,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ieq Capital LLC purchased a new position in Rayonier Advanced Materials in the fourth quarter valued at $83,000. Entropy Technologies LP acquired a new position in shares of Rayonier Advanced Materials in the fourth quarter worth about $84,000. Townsquare Capital LLC acquired a new position in shares of Rayonier Advanced Materials in the fourth quarter worth about $85,000. Walleye Capital LLC acquired a new position in shares of Rayonier Advanced Materials in the fourth quarter worth about $113,000. Finally, Hsbc Holdings PLC raised its position in shares of Rayonier Advanced Materials by 36.6% in the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock worth $117,000 after acquiring an additional 3,852 shares during the period. 68.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist bought 63,291 shares of Rayonier Advanced Materials stock in a transaction on Friday, May 16th. The shares were bought at an average price of $3.95 per share, for a total transaction of $249,999.45. Following the completion of the transaction, the chief executive officer now directly owns 486,024 shares of the company's stock, valued at $1,919,794.80. This trade represents a 14.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.41% of the stock is currently owned by company insiders.

Rayonier Advanced Materials Price Performance

RYAM traded down $0.12 during midday trading on Wednesday, hitting $3.95. 549,937 shares of the company traded hands, compared to its average volume of 536,506. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $263.76 million, a price-to-earnings ratio of -3.09 and a beta of 2.63. Rayonier Advanced Materials Inc. has a 52-week low of $3.45 and a 52-week high of $10.28. The business has a 50 day simple moving average of $4.57 and a two-hundred day simple moving average of $6.62.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.35). Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The firm had revenue of $356.00 million during the quarter, compared to analyst estimates of $375.80 million. On average, equities analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RYAM. Wall Street Zen lowered Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Royal Bank of Canada decreased their price objective on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating on the stock in a report on Thursday, May 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.