Jefferies Financial Group Inc. purchased a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 376,069 shares of the basic materials company's stock, valued at approximately $2,956,000. Jefferies Financial Group Inc. owned 0.56% of Rayonier Advanced Materials as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in RYAM. Public Employees Retirement System of Ohio bought a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $41,000. Proficio Capital Partners LLC bought a new stake in Rayonier Advanced Materials in the 2nd quarter valued at approximately $318,000. Corient Private Wealth LP acquired a new position in Rayonier Advanced Materials during the 2nd quarter worth approximately $372,000. Bank of America Corp DE bought a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $627,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Rayonier Advanced Materials in the second quarter worth $743,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.
Rayonier Advanced Materials Stock Performance
Shares of NYSE RYAM opened at $8.64 on Friday. Rayonier Advanced Materials Inc. has a one year low of $5.38 and a one year high of $11.85. The firm has a market cap of $584.41 million, a price-to-earnings ratio of -4.11 and a beta of 1.77. The stock's fifty day moving average price is $8.24 and its two-hundred day moving average price is $9.02. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.37 and a quick ratio of 0.85.
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 for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The company had revenue of $376.14 million during the quarter, compared to analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative net margin of 9.53% and a negative return on equity of 46.19%. On average, equities analysts forecast that Rayonier Advanced Materials Inc. will post -1.28 EPS for the current year.
Wall Street Analysts Forecast Growth
RYAM has been the subject of a number of analyst reports. Zacks Research raised shares of Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Wall Street Zen raised Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a research report on Monday, July 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. Finally, Royal Bank Of Canada dropped their price objective on 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. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Rayonier Advanced Materials presently has an average rating of "Hold" and a consensus target price of $13.00.
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Rayonier Advanced Materials Profile
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Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.
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