Hsbc Holdings PLC Takes Position in Rayonier Advanced Materials Inc. $RYAM

Hsbc Holdings PLC bought a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 108,206 shares of the basic materials company’s stock, valued at approximately $1,203,000.

Several other hedge funds have also added to or reduced their stakes in RYAM. Y Intercept Hong Kong Ltd grew its holdings in Rayonier Advanced Materials by 10.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 145,756 shares of the basic materials company’s stock valued at $1,614,000 after buying an additional 13,861 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Rayonier Advanced Materials by 28.2% in the first quarter. Assenagon Asset Management S.A. now owns 422,927 shares of the basic materials company’s stock valued at $4,682,000 after acquiring an additional 92,942 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at about $126,000. Numerai GP LLC acquired a new position in shares of Rayonier Advanced Materials in the fourth quarter valued at about $418,000. Finally, Cinctive Capital Management LP acquired a new position in shares of Rayonier Advanced Materials in the fourth quarter valued at about $187,000. 68.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RYAM shares. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Zacks Research lowered shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. Finally, Royal Bank Of Canada dropped their price target on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $13.00.

Rayonier Advanced Materials Stock Up 3.1%

RYAM stock opened at $8.77 on Wednesday. The company has a market cap of $591.18 million, a PE ratio of -1.24 and a beta of 1.78. The business has a 50-day simple moving average of $8.24 and a 200 day simple moving average of $8.94. Rayonier Advanced Materials Inc. has a 52 week low of $3.35 and a 52 week high of $11.85. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 3.21.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%.The firm had revenue of $319.06 million for the quarter, compared to analyst estimates of $302.63 million. Sell-side analysts anticipate that Rayonier Advanced Materials Inc. will post -1.16 EPS for the current fiscal year.

About Rayonier Advanced Materials

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.