Y Intercept Hong Kong Ltd Increases Stake in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Key Points

• Y Intercept Hong Kong Ltd significantly increased its stake in Rayonier Advanced Materials by 155.9%, now owning 129,488 shares valued at approximately $745,000.
• The company reported a quarterly earnings miss, with an EPS of ($0.49) compared to analysts' expectations of ($0.14), and revenue of $356 million against estimates of $375.8 million.
• Analysts have reduced their target price for Rayonier Advanced Materials, with Royal Bank of Canada lowering it from $9.00 to $6.00 while maintaining an "outperform" rating.

Y Intercept Hong Kong Ltd increased its position in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 155.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 129,488 shares of the basic materials company's stock after purchasing an additional 78,881 shares during the period. Y Intercept Hong Kong Ltd owned 0.19% of Rayonier Advanced Materials worth $745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Rayonier Advanced Materials by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,631 shares of the basic materials company's stock valued at $302,000 after purchasing an additional 1,596 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rayonier Advanced Materials by 15.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,135 shares of the basic materials company's stock valued at $200,000 after purchasing an additional 3,305 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Rayonier Advanced Materials by 36.6% in the 4th quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock valued at $117,000 after purchasing an additional 3,852 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Rayonier Advanced Materials by 15.5% in the 4th quarter. MetLife Investment Management LLC now owns 42,098 shares of the basic materials company's stock valued at $347,000 after purchasing an additional 5,660 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new position in Rayonier Advanced Materials in the 1st quarter valued at about $34,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Price Performance

Shares of RYAM traded down $0.11 during mid-day trading on Wednesday, hitting $3.92. The company's stock had a trading volume of 557,873 shares, compared to its average volume of 446,134. The company has a current ratio of 1.41, a quick ratio of 0.89 and a debt-to-equity ratio of 1.03. The firm has a 50-day simple moving average of $4.03 and a 200 day simple moving average of $5.27. The firm has a market capitalization of $261.78 million, a P/E ratio of -3.70 and a beta of 2.46. Rayonier Advanced Materials Inc. has a 1-year low of $3.45 and a 1-year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The basic materials company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.35). Rayonier Advanced Materials had a negative net margin of 4.38% and a negative return on equity of 4.71%. The company had revenue of $356.00 million for the quarter, compared to analyst estimates of $375.80 million. Analysts predict that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Insider Activity at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist acquired 63,291 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average cost of $3.95 per share, for a total transaction of $249,999.45. Following the transaction, the chief executive officer directly owned 486,024 shares of the company's stock, valued at approximately $1,919,794.80. This represents a 14.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on RYAM. Royal Bank Of Canada dropped their price target on Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen cut shares of Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

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.