Charles Schwab Investment Management Inc. Reduces Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Charles Schwab Investment Management Inc. reduced its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 15.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 414,323 shares of the basic materials company's stock after selling 76,265 shares during the period. Charles Schwab Investment Management Inc. owned 0.63% of Rayonier Advanced Materials worth $3,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials in the second quarter valued at approximately $61,000. nVerses Capital LLC lifted its holdings in Rayonier Advanced Materials by 121.9% in the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company's stock valued at $61,000 after acquiring an additional 3,900 shares during the last quarter. Truist Financial Corp acquired a new position in Rayonier Advanced Materials in the second quarter valued at approximately $66,000. Finally, Intech Investment Management LLC acquired a new position in Rayonier Advanced Materials in the third quarter valued at approximately $139,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RYAM has been the topic of a number of recent analyst reports. StockNews.com cut Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a report on Thursday, December 5th. Royal Bank of Canada upped their price objective on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday, November 7th.

Rayonier Advanced Materials Trading Down 3.0 %

Shares of Rayonier Advanced Materials stock traded down $0.24 during trading hours on Friday, reaching $7.83. 328,805 shares of the company were exchanged, compared to its average volume of 334,669. Rayonier Advanced Materials Inc. has a 1 year low of $3.15 and a 1 year high of $10.28. The stock's fifty day moving average is $8.56 and its 200 day moving average is $7.33. 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 - Get Free Report) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same quarter in the prior year, the company posted ($0.41) earnings per share. As a group, equities research analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

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.