Jefferies Financial Group Inc. Takes Position in Rayonier Advanced Materials Inc. $RYAM

Jefferies Financial Group Inc. purchased a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) in the second quarter, Holdings Channel.com reports. The fund purchased 376,069 shares of the basic materials company’s stock, valued at approximately $2,956,000.

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

Analyst Upgrades and Downgrades

RYAM has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Friday, July 17th. Zacks Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada cut their price objective on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.00.

Rayonier Advanced Materials Stock Up 2.6%

Shares of NYSE RYAM opened at $8.64 on Friday. The company has a 50 day simple moving average of $8.24 and a 200 day simple moving average of $9.02. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.37 and a quick ratio of 0.85. Rayonier Advanced Materials Inc. has a 1 year low of $5.38 and a 1 year high of $11.85. The firm has a market cap of $584.41 million, a PE ratio of -4.11 and a beta of 1.77.

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