Horizon Kinetics Asset Management LLC Grows Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Horizon Kinetics Asset Management LLC increased its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 100.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor 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 owned about 0.35% of Rayonier Advanced Materials worth $2,000,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake 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 valued at $19,576,000 after buying an additional 201,939 shares during the last quarter. Vanguard Group Inc. increased its position in Rayonier Advanced Materials by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock valued at $16,334,000 after acquiring an additional 31,281 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. American Century Companies Inc. lifted its holdings in Rayonier Advanced Materials by 24.7% in the second quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock valued at $8,248,000 after acquiring an additional 300,793 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Rayonier Advanced Materials by 7.2% in the second quarter. Renaissance Technologies LLC now owns 1,496,142 shares of the basic materials company’s stock worth $8,139,000 after purchasing an additional 101,128 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Price Performance

Shares of Rayonier Advanced Materials stock opened at $8.89 on Tuesday. The stock has a market cap of $586.03 million, a P/E ratio of -6.95 and a beta of 3.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. The stock’s fifty day moving average is $8.54 and its 200 day moving average is $7.01. Rayonier Advanced Materials Inc. has a one year low of $3.02 and a one year high of $10.28.

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

Wall Street Analysts Forecast Growth

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

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.