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Maryland State Retirement & Pension System Invests $190,000 in Rayonier Advanced Materials Inc. (NYSE:RYAM)

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Maryland State Retirement & Pension System purchased a new position in Rayonier Advanced Materials Inc. (NYSE:RYAM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,206 shares of the basic materials company’s stock, valued at approximately $190,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in shares of Rayonier Advanced Materials by 80.2% in the second quarter. Meeder Asset Management Inc. now owns 7,252 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 3,228 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Rayonier Advanced Materials in the second quarter worth about $60,000. Fox Run Management L.L.C. bought a new position in shares of Rayonier Advanced Materials in the second quarter worth about $68,000. Trexquant Investment LP bought a new position in shares of Rayonier Advanced Materials in the second quarter worth about $85,000. Finally, Ergoteles LLC bought a new position in shares of Rayonier Advanced Materials in the second quarter worth about $105,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Several research firms have commented on RYAM. Zacks Investment Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Saturday, December 18th. Bank of America lowered shares of Rayonier Advanced Materials from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $9.50 to $6.50 in a research report on Wednesday, December 15th. Finally, TheStreet lowered shares of Rayonier Advanced Materials from a “c” rating to a “d+” rating in a research report on Thursday, November 4th.

RYAM opened at $5.55 on Wednesday. Rayonier Advanced Materials Inc. has a 12-month low of $4.98 and a 12-month high of $11.30. The company has a quick ratio of 1.92, a current ratio of 2.58 and a debt-to-equity ratio of 1.18. The stock has a market cap of $353.74 million, a price-to-earnings ratio of 3.63 and a beta of 3.54. The stock’s 50 day simple moving average is $6.29.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Tuesday, November 2nd. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The business had revenue of $374.00 million for the quarter. Rayonier Advanced Materials had a negative return on equity of 4.65% and a net margin of 5.86%. During the same period in the previous year, the company earned $0.45 earnings per share.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials, Inc engages in the production and sale of cellulose products, which is a natural polymer commonly used in the production of cell phone and computer screens, filters, and pharmaceuticals. It operates through the following segments: High Purity Cellulose, Forest Products, Paperboard, Pulp and Newsprint, and Corporate.

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