138,985 Shares in Rayonier Advanced Materials Inc. $RYAM Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC bought a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 138,985 shares of the basic materials company’s stock, valued at approximately $1,190,000.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Rayonier Advanced Materials in the second quarter valued at about $37,437,000. Aip LLC bought a new stake in Rayonier Advanced Materials during the second quarter worth about $26,724,000. Nantahala Capital Management LLC bought a new stake in Rayonier Advanced Materials during the second quarter worth about $13,344,126. Irenic Capital Management LP bought a new stake in Rayonier Advanced Materials during the first quarter worth about $15,013,000. Finally, Empowered Funds LLC acquired a new stake in Rayonier Advanced Materials during the second quarter worth about $3,138,000. 68.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on RYAM shares. Royal Bank Of Canada decreased 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 report on Friday, July 17th. 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. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday. One 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 company. According to MarketBeat, Rayonier Advanced Materials currently has an average rating of “Hold” and a consensus target price of $13.00.

Rayonier Advanced Materials Trading Down 1.8%

Shares of RYAM stock opened at $6.98 on Friday. The stock’s fifty day moving average price is $8.14 and its two-hundred day moving average price is $8.60. The company has a market cap of $472.43 million, a PE ratio of -3.33 and a beta of 1.84. Rayonier Advanced Materials Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $11.85. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.85 and a current ratio of 1.37.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Rayonier Advanced Materials had a negative net margin of 9.53% and a negative return on equity of 46.19%. The business had revenue of $376.14 million during the quarter, compared to the consensus estimate of $362.00 million. Equities analysts predict that Rayonier Advanced Materials Inc. will post -1.28 EPS for the current fiscal year.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc (NYSE:RYAM) is a specialty materials company that produces cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, acetate tow and other cellulose derivatives used in products such as pharmaceutical excipients, food ingredients, coatings, films, fibers and cigarette filters.

The company also manufactures commodity products, including fluff pulp and other forms of cellulose pulp, which are used in absorbent hygiene products, paper and packaging.