Irenic Capital Management LP Buys Shares of 1,356,166 Rayonier Advanced Materials Inc. $RYAM

Irenic Capital Management LP purchased a new stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,356,166 shares of the basic materials company’s stock, valued at approximately $15,013,000. Rayonier Advanced Materials comprises about 1.0% of Irenic Capital Management LP’s holdings, making the stock its 22nd largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG raised its stake in Rayonier Advanced Materials by 1.5% in the 4th quarter. Deutsche Bank AG now owns 151,944 shares of the basic materials company’s stock valued at $895,000 after acquiring an additional 2,292 shares during the period. Barclays PLC lifted its holdings in Rayonier Advanced Materials by 4.5% during the fourth quarter. Barclays PLC now owns 100,484 shares of the basic materials company’s stock valued at $592,000 after purchasing an additional 4,348 shares during the last quarter. Intech Investment Management LLC boosted its position in Rayonier Advanced Materials by 19.1% during the fourth quarter. Intech Investment Management LLC now owns 27,725 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 4,438 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Rayonier Advanced Materials by 13.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,121 shares of the basic materials company’s stock worth $231,000 after purchasing an additional 4,714 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in shares of Rayonier Advanced Materials by 39.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 5,721 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Stock Up 3.1%

RYAM stock opened at $8.77 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $591.18 million, a PE ratio of -1.24 and a beta of 1.78. Rayonier Advanced Materials Inc. has a twelve month low of $3.35 and a twelve month high of $11.85. The stock has a 50-day simple moving average of $8.24 and a two-hundred day simple moving average of $8.94.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. The company had revenue of $319.06 million for the quarter, compared to the consensus estimate of $302.63 million. On average, equities analysts predict that Rayonier Advanced Materials Inc. will post -1.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on RYAM shares. Royal Bank Of Canada lowered their price target on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research 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 note on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. Finally, Wall Street Zen upgraded 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 and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $13.00.

Rayonier Advanced Materials 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.