Trexquant Investment LP grew its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 198.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 131,633 shares of the basic materials company's stock after acquiring an additional 87,454 shares during the period. Trexquant Investment LP owned about 0.20% of Rayonier Advanced Materials worth $757,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System bought a new position in shares of Rayonier Advanced Materials during the 1st quarter valued at approximately $34,000. Royce & Associates LP bought a new position in shares of Rayonier Advanced Materials during the 1st quarter valued at approximately $103,000. Hsbc Holdings PLC grew its position in shares of Rayonier Advanced Materials by 36.6% during the 4th quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock valued at $117,000 after acquiring an additional 3,852 shares during the period. Saxon Interests Inc. purchased a new stake in shares of Rayonier Advanced Materials during the 1st quarter valued at approximately $117,000. Finally, Man Group plc purchased a new stake in shares of Rayonier Advanced Materials during the 4th quarter valued at approximately $142,000. 68.64% of the stock is owned by institutional investors.
Rayonier Advanced Materials Price Performance
NYSE RYAM traded up $0.17 on Friday, hitting $6.31. The stock had a trading volume of 645,916 shares, compared to its average volume of 680,315. Rayonier Advanced Materials Inc. has a 52-week low of $3.35 and a 52-week high of $10.28. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.83 and a current ratio of 1.45. The company has a market capitalization of $422.77 million, a price-to-earnings ratio of -0.95 and a beta of 2.56. The firm has a 50-day moving average of $4.81 and a 200-day moving average of $4.72.
Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its earnings results on Tuesday, August 5th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.23). Rayonier Advanced Materials had a negative return on equity of 12.11% and a negative net margin of 29.23%.The firm had revenue of $340.00 million during the quarter, compared to analysts' expectations of $387.07 million. Equities analysts expect that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.
Analyst Ratings Changes
A number of brokerages recently commented on RYAM. 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. Zacks Research upgraded shares of Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research note on Monday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $6.00.
Read Our Latest Report on Rayonier Advanced Materials
Insider Buying and Selling at Rayonier Advanced Materials
In related news, CEO Delyle W. Bloomquist acquired 53,533 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $4.71 per share, for a total transaction of $252,140.43. Following the transaction, the chief executive officer owned 539,557 shares in the company, valued at $2,541,313.47. This represents a 11.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.41% of the company's stock.
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.
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