213,470 Shares in Rayonier Advanced Materials Inc. $RYAM Acquired by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC acquired 213,470 shares of Rayonier Advanced Materials in the second quarter, valued at approximately $1.68 million and representing about 0.32% of the company. Institutional investors collectively own 68.64% of RYAM.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $13.00 average price target. Ratings range from Buy to Sell.
• RYAM opened at $8.24, below its 50-day and 200-day moving averages, after reporting a quarterly EPS loss of $0.30 that missed estimates by $0.08; revenue of $376.14 million exceeded expectations.

Squarepoint Ops LLC acquired a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 213,470 shares of the basic materials company's stock, valued at approximately $1,678,000. Squarepoint Ops LLC owned about 0.32% of Rayonier Advanced Materials as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new stake in Rayonier Advanced Materials during the 2nd quarter worth $37,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $41,000. Legal & General Group Plc purchased a new position in shares of Rayonier Advanced Materials in the second quarter worth about $48,000. Quantinno Capital Management LP lifted its stake in shares of Rayonier Advanced Materials by 10.7% in the first quarter. Quantinno Capital Management LP now owns 89,211 shares of the basic materials company's stock worth $988,000 after buying an additional 8,596 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in Rayonier Advanced Materials by 10.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 145,756 shares of the basic materials company's stock worth $1,614,000 after acquiring an additional 13,861 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RYAM shares. Zacks Research raised shares of Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada decreased their target price on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Wall Street Zen upgraded Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.00.

Rayonier Advanced Materials Stock Down 0.9%

NYSE RYAM opened at $8.24 on Wednesday. The business's fifty day simple moving average is $8.42 and its 200-day simple moving average is $9.06. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 3.83. The firm has a market cap of $557.62 million, a PE ratio of -3.93 and a beta of 1.76. Rayonier Advanced Materials Inc. has a 52 week low of $5.38 and a 52 week high of $11.85.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.08). Rayonier Advanced Materials had a negative net margin of 9.53% and a negative return on equity of 46.19%. The firm had revenue of $376.14 million during the quarter, compared to analysts' expectations of $362.00 million. As a group, equities analysts anticipate that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current year.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc NYSE: RYAM is a specialty materials company that develops and manufactures cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, viscose pulp and other engineered biomaterials.

The company's products are used in a range of applications, including pharmaceutical and food ingredients, cigarette filters, liquid-crystal displays, paints and coatings, textiles, tire and rubber products, personal care items and other specialty materials.

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