Millennium Management LLC Has $6.99 Million Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Millennium Management LLC boosted its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 127.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 846,678 shares of the basic materials company's stock after acquiring an additional 473,723 shares during the period. Millennium Management LLC owned about 1.28% of Rayonier Advanced Materials worth $6,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RYAM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rayonier Advanced Materials by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,631 shares of the basic materials company's stock worth $302,000 after purchasing an additional 1,596 shares during the period. Graham Capital Management L.P. raised its holdings in shares of Rayonier Advanced Materials by 254.0% in the fourth quarter. Graham Capital Management L.P. now owns 38,150 shares of the basic materials company's stock valued at $315,000 after buying an additional 27,374 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Rayonier Advanced Materials by 18.2% in the fourth quarter. Deutsche Bank AG now owns 123,297 shares of the basic materials company's stock valued at $1,017,000 after buying an additional 18,954 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Rayonier Advanced Materials by 28.4% in the fourth quarter. Cetera Investment Advisers now owns 135,802 shares of the basic materials company's stock valued at $1,120,000 after buying an additional 30,055 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $397,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RYAM shares. Royal Bank of Canada cut their price target on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Wall Street Zen cut shares of Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

Insider Buying and Selling at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist bought 63,291 shares of Rayonier Advanced Materials stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average cost of $3.95 per share, for a total transaction of $249,999.45. Following the completion of the acquisition, the chief executive officer now owns 486,024 shares of the company's stock, valued at approximately $1,919,794.80. This represents a 14.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.41% of the stock is owned by company insiders.

Rayonier Advanced Materials Stock Down 0.9%

Rayonier Advanced Materials stock traded down $0.04 during trading on Friday, reaching $3.91. 225,052 shares of the company's stock were exchanged, compared to its average volume of 533,264. Rayonier Advanced Materials Inc. has a 52-week low of $3.45 and a 52-week high of $10.28. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. The firm has a market cap of $260.76 million, a price-to-earnings ratio of -3.05 and a beta of 2.63. The company's 50-day moving average is $4.51 and its two-hundred day moving average is $6.56.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its 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). The company had revenue of $356.00 million during the quarter, compared to analyst estimates of $375.80 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. On average, analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Rayonier Advanced Materials 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.