SummitTX Capital L.P. Acquires New Stake in Rayonier Advanced Materials Inc. $RYAM

SummitTX Capital L.P. bought a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 211,487 shares of the basic materials company’s stock, valued at approximately $2,341,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Rayonier Advanced Materials by 38.0% during the 1st quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock valued at $6,718,000 after purchasing an additional 321,613 shares during the period. Caxton Associates LLP bought a new stake in shares of Rayonier Advanced Materials in the 1st quarter worth $248,000. Empowered Funds LLC lifted its holdings in shares of Rayonier Advanced Materials by 4.2% in the first quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock valued at $2,139,000 after buying an additional 15,071 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Rayonier Advanced Materials by 1.3% in the second quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock valued at $5,927,000 after buying an additional 19,999 shares during the period. Finally, Marshall Wace LLP boosted its stake in Rayonier Advanced Materials by 923.8% during the second quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock valued at $535,000 after buying an additional 125,336 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Advanced Materials Price Performance

NYSE RYAM opened at $8.77 on Wednesday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37. The stock has a market capitalization of $591.18 million, a P/E ratio of -1.24 and a beta of 1.78. The business’s fifty day moving average is $8.24 and its two-hundred day moving average is $8.94. Rayonier Advanced Materials Inc. has a 1 year low of $3.35 and a 1 year high of $11.85.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share (EPS) 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 company had revenue of $319.06 million for the quarter, compared to analyst estimates of $302.63 million. On average, research analysts forecast that Rayonier Advanced Materials Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Monday, July 20th. 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 report on Friday, July 17th. 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $13.00.

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.