Assenagon Asset Management S.A. Purchases 99,482 Shares of Rayonier Advanced Materials Inc. $RYAM

Assenagon Asset Management S.A. increased its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 40.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 346,635 shares of the basic materials company’s stock after acquiring an additional 99,482 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Rayonier Advanced Materials were worth $2,503,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. raised its holdings in shares of Rayonier Advanced Materials by 754.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 7,031 shares in the last quarter. State of Wyoming increased its holdings in Rayonier Advanced Materials by 28.4% during the second quarter. State of Wyoming now owns 69,557 shares of the basic materials company’s stock valued at $268,000 after buying an additional 15,389 shares during the period. Oxford Asset Management LLP raised its stake in Rayonier Advanced Materials by 290.0% in the second quarter. Oxford Asset Management LLP now owns 65,627 shares of the basic materials company’s stock worth $253,000 after buying an additional 48,798 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Rayonier Advanced Materials by 19.1% during the second quarter. Balyasny Asset Management L.P. now owns 97,964 shares of the basic materials company’s stock worth $377,000 after buying an additional 15,731 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Rayonier Advanced Materials by 30.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 484,043 shares of the basic materials company’s stock valued at $1,864,000 after acquiring an additional 113,414 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RYAM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Wednesday, October 8th. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.00.

Rayonier Advanced Materials Stock Performance

RYAM opened at $5.76 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 2.26. Rayonier Advanced Materials Inc. has a 12-month low of $3.35 and a 12-month high of $8.56. The firm has a 50 day moving average of $6.38 and a two-hundred day moving average of $5.60. The firm has a market capitalization of $385.64 million, a PE ratio of -0.92 and a beta of 2.17.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, November 4th. The basic materials company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Rayonier Advanced Materials had a negative net margin of 28.21% and a negative return on equity of 13.64%. The firm had revenue of $352.84 million for the quarter, compared to analyst estimates of $373.70 million. On average, analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current 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.