Assenagon Asset Management S.A. Boosts Stake in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Assenagon Asset Management S.A. raised its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 226.8% during the third quarter, HoldingsChannel.com reports. The firm owned 325,037 shares of the basic materials company’s stock after purchasing an additional 225,575 shares during the period. Assenagon Asset Management S.A.’s holdings in Rayonier Advanced Materials were worth $2,782,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RYAM. Boston Partners grew its stake in Rayonier Advanced Materials by 1,923.5% in the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock worth $10,307,000 after acquiring an additional 2,054,715 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Rayonier Advanced Materials by 471.8% in the 1st quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after acquiring an additional 1,648,101 shares in the last quarter. American Century Companies Inc. grew its stake in Rayonier Advanced Materials by 24.7% in the 2nd quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock worth $8,248,000 after acquiring an additional 300,793 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Rayonier Advanced Materials by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock worth $19,576,000 after acquiring an additional 201,939 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Rayonier Advanced Materials by 30.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock worth $3,429,000 after acquiring an additional 168,222 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Price Performance

NYSE RYAM opened at $8.03 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.69. The firm’s 50 day moving average price is $7.99 and its 200-day moving average price is $6.36. Rayonier Advanced Materials Inc. has a 52-week low of $2.66 and a 52-week high of $8.97. The company has a market cap of $529.10 million, a PE ratio of -6.81 and a beta of 2.99.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. The firm had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. During the same period last year, the firm earned ($0.25) earnings per share. Sell-side analysts forecast that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on RYAM. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada upped their target price on shares of Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th.

Rayonier Advanced Materials Company Profile

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.