Horizon Kinetics Asset Management LLC Acquires 117,000 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Horizon Kinetics Asset Management LLC raised its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 100.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 233,700 shares of the basic materials company’s stock after buying an additional 117,000 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Rayonier Advanced Materials were worth $2,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RYAM. Vanguard Group Inc. boosted its holdings 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 worth $16,334,000 after purchasing an additional 31,281 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Rayonier Advanced Materials by 30.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock valued at $3,429,000 after acquiring an additional 168,222 shares during the last quarter. 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 valued at $10,307,000 after acquiring an additional 2,054,715 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at $541,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Rayonier Advanced Materials by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 333,677 shares of the basic materials company’s stock worth $1,815,000 after acquiring an additional 24,627 shares during the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Stock Performance

RYAM stock opened at $8.89 on Tuesday. Rayonier Advanced Materials Inc. has a twelve month low of $3.02 and a twelve month high of $10.28. The firm has a market cap of $586.03 million, a price-to-earnings ratio of -6.95 and a beta of 3.01. The business’s fifty day simple moving average is $8.54 and its two-hundred day simple moving average is $7.01. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

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, topping the consensus estimate of ($0.18) by $0.06. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same quarter last year, the firm posted ($0.41) EPS. Analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on RYAM shares. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada upped their target price on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Rayonier Advanced Materials Company 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.