Susquehanna Portfolio Strategies LLC Trims Stock Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Susquehanna Portfolio Strategies LLC lowered its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 34.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,318 shares of the basic materials company’s stock after selling 37,751 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Rayonier Advanced Materials were worth $388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners increased its position in Rayonier Advanced Materials by 1,923.5% during the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock worth $10,307,000 after purchasing an additional 2,054,715 shares during the last quarter. CastleKnight Management LP increased its holdings in Rayonier Advanced Materials by 1,036.0% during the 4th quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock worth $7,950,000 after purchasing an additional 1,790,257 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Rayonier Advanced Materials by 471.8% in the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after buying an additional 1,648,101 shares during the last quarter. American Century Companies Inc. raised 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. Finally, Dimensional Fund Advisors LP lifted its holdings in Rayonier Advanced Materials by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock worth $19,576,000 after buying an additional 201,939 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Stock Performance

NYSE:RYAM opened at $8.50 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average of $7.31 and a 200-day moving average of $5.76. Rayonier Advanced Materials Inc. has a twelve month low of $2.66 and a twelve month high of $8.92. The firm has a market cap of $560.07 million, a price-to-earnings ratio of -5.28 and a beta of 3.00.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.26. The business had revenue of $419.00 million during the quarter, compared to the consensus estimate of $407.10 million. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. During the same period in the prior year, the business posted ($0.25) earnings per share. Analysts forecast that Rayonier Advanced Materials Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on RYAM shares. Royal Bank of Canada lifted their price target on shares of Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. StockNews.com raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Thursday, August 8th.

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.