Cubist Systematic Strategies LLC Sells 38,995 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Cubist Systematic Strategies LLC reduced its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284,685 shares of the basic materials company’s stock after selling 38,995 shares during the quarter. Cubist Systematic Strategies LLC owned 0.43% of Rayonier Advanced Materials worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ieq Capital LLC bought a new position in shares of Rayonier Advanced Materials during the fourth quarter valued at $83,000. Entropy Technologies LP purchased a new stake in Rayonier Advanced Materials in the fourth quarter worth approximately $84,000. Townsquare Capital LLC purchased a new stake in Rayonier Advanced Materials in the fourth quarter worth approximately $85,000. Walleye Capital LLC purchased a new stake in Rayonier Advanced Materials in the fourth quarter worth approximately $113,000. Finally, Hsbc Holdings PLC boosted its holdings in Rayonier Advanced Materials by 36.6% in the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 3,852 shares during the last quarter. 68.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on RYAM. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Royal Bank of Canada cut their price target on Rayonier Advanced Materials from $9.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday.

Rayonier Advanced Materials Trading Down 3.7%

NYSE:RYAM opened at $3.62 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The firm has a market capitalization of $241.64 million, a price-to-earnings ratio of -2.83 and a beta of 2.63. Rayonier Advanced Materials Inc. has a one year low of $3.45 and a one year high of $10.28. The business has a fifty day moving average price of $4.97 and a 200-day moving average price of $6.99.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, May 6th. The basic materials company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.35). The company had revenue of $356.00 million during the quarter, compared to analysts’ expectations of $375.80 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. Sell-side analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

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.