Assenagon Asset Management S.A. Has $1.89 Million Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Assenagon Asset Management S.A. decreased its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 29.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,193 shares of the basic materials company’s stock after selling 95,844 shares during the period. Assenagon Asset Management S.A. owned approximately 0.35% of Rayonier Advanced Materials worth $1,891,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new stake in Rayonier Advanced Materials during the second quarter worth $29,000. nVerses Capital LLC boosted its holdings in Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 3,900 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth $61,000. Truist Financial Corp purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $66,000. Finally, Intech Investment Management LLC bought a new position in shares of Rayonier Advanced Materials during the third quarter valued at about $139,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Eric Bowen acquired 12,500 shares of Rayonier Advanced Materials stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $8.04 per share, with a total value of $100,500.00. Following the transaction, the director now owns 12,500 shares in the company, valued at $100,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.14% of the stock is owned by insiders.

Rayonier Advanced Materials Price Performance

NYSE:RYAM opened at $8.06 on Friday. Rayonier Advanced Materials Inc. has a 52-week low of $3.15 and a 52-week high of $10.28. 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 firm has a market capitalization of $531.32 million, a price-to-earnings ratio of -6.30 and a beta of 3.02. The stock has a fifty day moving average of $8.16 and a 200 day moving average of $7.76.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period in the prior year, the company earned ($0.41) EPS. On average, research analysts expect that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RYAM has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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.