State of Wyoming Grows Stake in Rayonier Advanced Materials Inc. (NYSE:RYAM)

State of Wyoming boosted its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 89.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,327 shares of the basic materials company’s stock after purchasing an additional 35,645 shares during the period. State of Wyoming owned about 0.11% of Rayonier Advanced Materials worth $621,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ieq Capital LLC purchased a new position in Rayonier Advanced Materials in the 4th quarter valued at approximately $83,000. Entropy Technologies LP purchased a new position in Rayonier Advanced Materials in the 4th quarter valued at approximately $84,000. Townsquare Capital LLC purchased a new position in Rayonier Advanced Materials in the 4th quarter valued at approximately $85,000. Walleye Capital LLC purchased a new position in Rayonier Advanced Materials in the 4th quarter valued at approximately $113,000. Finally, Hsbc Holdings PLC increased its stake in Rayonier Advanced Materials by 36.6% in the 4th quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 3,852 shares in the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Stock Performance

Rayonier Advanced Materials stock opened at $4.20 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. The stock has a fifty day moving average of $4.76 and a two-hundred day moving average of $6.85. The company has a market capitalization of $280.12 million, a price-to-earnings ratio of -3.28 and a beta of 2.63. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.35). The company had revenue of $356.00 million for the quarter, compared to analysts’ expectations of $375.80 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. On average, analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada dropped their price target on Rayonier Advanced Materials from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. StockNews.com downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Thursday.

About Rayonier Advanced Materials

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.