Hsbc Holdings PLC Invests $1.20 Million in Rayonier Advanced Materials Inc. $RYAM

Hsbc Holdings PLC bought a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 108,206 shares of the basic materials company’s stock, valued at approximately $1,203,000. Hsbc Holdings PLC owned approximately 0.16% of Rayonier Advanced Materials at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its stake in shares of Rayonier Advanced Materials by 754.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after buying an additional 7,031 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Rayonier Advanced Materials during the fourth quarter worth about $76,000. Dynamic Technology Lab Private Ltd bought a new stake in Rayonier Advanced Materials during the fourth quarter worth about $86,000. Balyasny Asset Management L.P. acquired a new position in Rayonier Advanced Materials during the fourth quarter valued at approximately $117,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Rayonier Advanced Materials by 39.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 5,721 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RYAM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report 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. Finally, Royal Bank Of Canada cut 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 note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $13.00.

Rayonier Advanced Materials Stock Performance

RYAM opened at $8.77 on Wednesday. Rayonier Advanced Materials Inc. has a 12-month low of $3.35 and a 12-month high of $11.85. The stock has a market cap of $591.18 million, a price-to-earnings ratio of -1.24 and a beta of 1.78. The business has a 50 day moving average of $8.24 and a 200-day moving average of $8.94. 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 posted its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share 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 business had revenue of $319.06 million for the quarter, compared to analyst estimates of $302.63 million. On average, equities research analysts expect that Rayonier Advanced Materials Inc. will post -1.16 earnings per share for the current year.

Rayonier Advanced Materials Company Profile

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.