Renaissance Technologies LLC Acquires 464,630 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Renaissance Technologies LLC raised its position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,021,444 shares of the basic materials company's stock after acquiring an additional 464,630 shares during the quarter. Renaissance Technologies LLC owned approximately 3.07% of Rayonier Advanced Materials worth $16,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in shares of Rayonier Advanced Materials by 2.9% in the 4th 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 during the period. Dynamic Technology Lab Private Ltd grew its holdings in Rayonier Advanced Materials by 156.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 51,162 shares of the basic materials company's stock worth $422,000 after purchasing an additional 31,177 shares during the period. Wells Fargo & Company MN increased its stake in shares of Rayonier Advanced Materials by 31.8% during the fourth quarter. Wells Fargo & Company MN now owns 41,234 shares of the basic materials company's stock valued at $340,000 after purchasing an additional 9,957 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Rayonier Advanced Materials by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 132,384 shares of the basic materials company's stock valued at $1,092,000 after purchasing an additional 14,210 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Rayonier Advanced Materials by 6.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 652,404 shares of the basic materials company's stock valued at $5,382,000 after purchasing an additional 37,766 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RYAM. Royal Bank of Canada cut their price target on Rayonier Advanced Materials from $12.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. StockNews.com cut Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research note on Friday, April 11th.

Rayonier Advanced Materials Stock Down 0.7 %

Rayonier Advanced Materials stock traded down $0.03 during trading hours on Friday, hitting $4.41. The stock had a trading volume of 694,201 shares, compared to its average volume of 525,638. The stock's 50-day moving average price is $5.93 and its 200-day moving average price is $7.41. The stock has a market capitalization of $294.31 million, a P/E ratio of -3.44 and a beta of 2.86. Rayonier Advanced Materials Inc. has a 12-month low of $3.72 and a 12-month high of $10.28. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

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.