Covestor Ltd Cuts Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Covestor Ltd lessened its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 26.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,697 shares of the basic materials company’s stock after selling 2,371 shares during the period. Covestor Ltd’s holdings in Rayonier Advanced Materials were worth $57,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Rayonier Advanced Materials by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock valued at $19,576,000 after purchasing an additional 201,939 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Rayonier Advanced Materials by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock valued at $16,334,000 after purchasing an additional 31,281 shares in the last quarter. Boston Partners boosted its stake in shares of Rayonier Advanced Materials by 1,923.5% in the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after purchasing an additional 2,054,715 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Rayonier Advanced Materials by 471.8% in the 1st quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock valued at $9,548,000 after purchasing an additional 1,648,101 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Rayonier Advanced Materials by 24.7% in the 2nd quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock valued at $8,248,000 after purchasing an additional 300,793 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Trading Down 2.1 %

NYSE:RYAM opened at $9.34 on Friday. The company has a fifty day moving average of $8.30 and a 200 day moving average of $6.71. Rayonier Advanced Materials Inc. has a 52 week low of $3.02 and a 52 week 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. The firm has a market capitalization of $615.69 million, a P/E ratio of -7.45 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. The company had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. During the same period in the prior year, the business posted ($0.41) EPS. On average, research analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

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.