AQR Capital Management LLC raised its position in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 64.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 507,373 shares of the basic materials company's stock after purchasing an additional 198,709 shares during the quarter. AQR Capital Management LLC owned about 0.77% of Rayonier Advanced Materials worth $4,186,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Rayonier Advanced Materials by 273.6% during the 3rd quarter. Barclays PLC now owns 83,893 shares of the basic materials company's stock worth $718,000 after purchasing an additional 61,437 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Rayonier Advanced Materials by 71.6% in the third quarter. Franklin Resources Inc. now owns 118,174 shares of the basic materials company's stock worth $962,000 after purchasing an additional 49,309 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Rayonier Advanced Materials by 157.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company's stock valued at $4,288,000 after acquiring an additional 306,640 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Rayonier Advanced Materials by 33.5% in the fourth quarter. SG Americas Securities LLC now owns 45,367 shares of the basic materials company's stock valued at $374,000 after purchasing an additional 11,384 shares during the period. Finally, Empowered Funds LLC lifted its position in Rayonier Advanced Materials by 5.1% during the 4th quarter. Empowered Funds LLC now owns 356,960 shares of the basic materials company's stock worth $2,945,000 after acquiring an additional 17,368 shares during the last quarter. Institutional investors own 68.64% of the company's stock.
Rayonier Advanced Materials Price Performance
RYAM opened at $3.62 on Friday. Rayonier Advanced Materials Inc. has a 52 week low of $3.45 and a 52 week high of $10.28. The company has a fifty day moving average price of $4.97 and a two-hundred day moving average price of $7.00. 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 capitalization of $241.64 million, a PE ratio of -2.83 and a beta of 2.63.
Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $356.00 million for the quarter, compared to the consensus estimate 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, analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating on the stock in a research report on Thursday. StockNews.com raised Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a report on Wednesday.
Read Our Latest Stock Report on Rayonier Advanced Materials
About Rayonier Advanced Materials
(
Free Report)
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.
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