Y Intercept Hong Kong Ltd grew its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 155.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,488 shares of the basic materials company's stock after purchasing an additional 78,881 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.19% of Rayonier Advanced Materials worth $745,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of RYAM. New York State Teachers Retirement System acquired a new stake in shares of Rayonier Advanced Materials in the first quarter valued at about $34,000. Townsquare Capital LLC acquired a new stake in Rayonier Advanced Materials during the fourth quarter worth about $85,000. Walleye Capital LLC acquired a new stake in Rayonier Advanced Materials during the fourth quarter worth about $113,000. Hsbc Holdings PLC raised its stake in Rayonier Advanced Materials by 36.6% during the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock worth $117,000 after purchasing an additional 3,852 shares during the period. Finally, Saxon Interests Inc. purchased a new position in Rayonier Advanced Materials during the first quarter worth about $117,000. Institutional investors and hedge funds own 68.64% of the company's stock.
Rayonier Advanced Materials Price Performance
Shares of RYAM opened at $4.32 on Friday. Rayonier Advanced Materials Inc. has a 1-year low of $3.45 and a 1-year high of $10.28. The stock has a market cap of $288.16 million, a PE ratio of -4.07 and a beta of 2.46. The firm has a 50-day simple moving average of $4.04 and a two-hundred day simple moving average of $5.33. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.41 and a quick ratio of 0.89.
Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The basic materials company reported ($0.49) earnings per share 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. As a group, analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on RYAM shares. Royal Bank Of Canada reduced their target price on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.
View Our Latest Stock Report on RYAM
Insider Buying and Selling at Rayonier Advanced Materials
In related news, CEO Delyle W. Bloomquist purchased 63,291 shares of the company's stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $3.95 per share, for a total transaction of $249,999.45. Following the completion of the transaction, the chief executive officer directly owned 486,024 shares in the company, valued at approximately $1,919,794.80. The trade was a 14.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 4.41% of the stock is currently owned by corporate insiders.
Rayonier Advanced Materials Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding RYAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report).
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