Empowered Funds LLC Acquires Shares of 399,272 Rayonier Advanced Materials Inc. $RYAM

Empowered Funds LLC acquired a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 399,272 shares of the basic materials company’s stock, valued at approximately $3,138,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RYAM. Aip LLC bought a new stake in shares of Rayonier Advanced Materials in the second quarter valued at approximately $26,724,000. Irenic Capital Management LP bought a new position in Rayonier Advanced Materials during the 1st quarter worth $15,013,000. Lazard Asset Management LLC bought a new position in Rayonier Advanced Materials during the 1st quarter worth $2,150,000. SummitTX Capital L.P. acquired a new position in Rayonier Advanced Materials in the 1st quarter valued at $2,341,000. Finally, Waverly Advisors LLC acquired a new position in Rayonier Advanced Materials in the 1st quarter valued at $1,298,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RYAM. Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Zacks Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada dropped their price target on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.00.

Rayonier Advanced Materials Price Performance

Shares of RYAM stock opened at $8.34 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 twelve month low of $5.38 and a twelve month high of $11.85. The company has a market cap of $564.12 million, a P/E ratio of -3.97 and a beta of 1.76. The business has a fifty day simple moving average of $8.25 and a 200 day simple moving average of $9.03.

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

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.