Two Sigma Advisers LP Sells 86,900 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Two Sigma Advisers LP reduced its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 443,776 shares of the basic materials company's stock after selling 86,900 shares during the period. Two Sigma Advisers LP owned about 0.67% of Rayonier Advanced Materials worth $3,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RYAM. Millennium Management LLC increased its holdings in Rayonier Advanced Materials by 127.0% during the fourth quarter. Millennium Management LLC now owns 846,678 shares of the basic materials company's stock valued at $6,985,000 after buying an additional 473,723 shares during the last quarter. Renaissance Technologies LLC increased its holdings 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 buying an additional 464,630 shares during the last quarter. American Century Companies Inc. increased its holdings 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 buying an additional 366,009 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Rayonier Advanced Materials by 66.8% during the fourth quarter. JPMorgan Chase & Co. now owns 835,388 shares of the basic materials company's stock valued at $6,892,000 after buying an additional 334,497 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Rayonier Advanced Materials by 64.4% during the fourth quarter. AQR Capital Management LLC now owns 507,373 shares of the basic materials company's stock valued at $4,186,000 after buying an additional 198,709 shares during the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rayonier Advanced Materials

In related news, CEO Delyle W. Bloomquist bought 63,291 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average cost of $3.95 per share, with a total value of $249,999.45. Following the completion of the purchase, the chief executive officer now owns 486,024 shares of the company's stock, valued at approximately $1,919,794.80. The trade was a 14.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.41% of the stock is currently owned by corporate insiders.

Rayonier Advanced Materials Price Performance

Shares of NYSE RYAM traded down $0.12 during midday trading on Wednesday, reaching $3.95. The stock had a trading volume of 549,937 shares, compared to its average volume of 535,103. The stock has a 50-day moving average of $4.57 and a 200-day moving average of $6.62. 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 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 12-month low of $3.45 and a 12-month high of $10.28.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RYAM. Royal Bank of Canada reduced their price objective on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating for the company in a research note 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.

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.