Governors Lane LP acquired a new position in Rayonier Advanced Materials Inc. (NYSE:RYAM – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 306,700 shares of the basic materials company’s stock, valued at approximately $2,411,000.
A number of other large investors have also recently made changes to their positions in RYAM. Corient Private Wealth LP increased its stake in shares of Rayonier Advanced Materials by 341.7% during the second quarter. Corient Private Wealth LP now owns 47,309 shares of the basic materials company’s stock valued at $372,000 after buying an additional 36,599 shares during the period. California State Teachers Retirement System lifted its stake in Rayonier Advanced Materials by 93.3% in the second quarter. California State Teachers Retirement System now owns 6,744 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 3,256 shares during the period. AXQ Capital LP lifted its stake in Rayonier Advanced Materials by 117.6% in the second quarter. AXQ Capital LP now owns 28,750 shares of the basic materials company’s stock worth $226,000 after acquiring an additional 15,537 shares during the period. Proficio Capital Partners LLC bought a new stake in Rayonier Advanced Materials in the second quarter valued at $318,000. Finally, Nantahala Capital Management LLC bought a new stake in Rayonier Advanced Materials in the second quarter valued at $13,344,126. 68.64% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
RYAM has been the subject of several research reports. Zacks Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Friday, July 17th. Royal Bank Of Canada cut their target price on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.00.
Rayonier Advanced Materials Trading Up 0.2%
RYAM opened at $8.52 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 3.83. Rayonier Advanced Materials Inc. has a 52 week low of $5.38 and a 52 week high of $11.85. The stock has a market cap of $576.23 million, a PE ratio of -4.06 and a beta of 1.76. The business has a 50 day moving average of $8.31 and a 200-day moving average of $9.05.
Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $376.14 million during the quarter, compared to analysts’ expectations of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%. Equities research analysts predict that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current fiscal 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.
Further Reading
- Five stocks we like better than Rayonier Advanced Materials
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
Want to see what other hedge funds are holding RYAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rayonier Advanced Materials Inc. (NYSE:RYAM – Free Report).
Receive News & Ratings for Rayonier Advanced Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rayonier Advanced Materials and related companies with MarketBeat.com's FREE daily email newsletter.
