306,700 Shares in Rayonier Advanced Materials Inc. $RYAM Acquired by Governors Lane LP

Key Points

• Governors Lane LP acquired 306,700 shares of Rayonier Advanced Materials in the second quarter, valued at about $2.41 million and representing roughly 0.45% of the company. Institutional investors collectively own 68.64% of RYAM.
• Analyst sentiment remains mixed, with ratings ranging from buy to sell; MarketBeat’s consensus is “Hold” with an average price target of $13, while RBC lowered its target from $14 to $13.
• RYAM reported a quarterly loss of $0.30 per share, missing estimates by $0.08, though revenue of $376.14 million exceeded expectations. The company faces weak profitability, including a negative 9.53% net margin and projected full-year EPS of -$1.28.

Governors Lane LP bought a new position in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 306,700 shares of the basic materials company's stock, valued at approximately $2,411,000. Governors Lane LP owned approximately 0.45% of Rayonier Advanced Materials at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RYAM. Corient Private Wealth LP raised its stake in shares of Rayonier Advanced Materials by 341.7% during the second quarter. Corient Private Wealth LP now owns 47,309 shares of the basic materials company's stock worth $372,000 after acquiring an additional 36,599 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Rayonier Advanced Materials by 93.3% in the 2nd quarter. California State Teachers Retirement System now owns 6,744 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 3,256 shares in the last quarter. AXQ Capital LP boosted its stake in shares of Rayonier Advanced Materials by 117.6% in the 2nd quarter. AXQ Capital LP now owns 28,750 shares of the basic materials company's stock valued at $226,000 after purchasing an additional 15,537 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Rayonier Advanced Materials during the 2nd quarter valued at $318,000. Finally, Nantahala Capital Management LLC bought a new position in shares of Rayonier Advanced Materials during the 2nd quarter valued at $13,344,126. 68.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on RYAM shares. Wall Street Zen raised shares of Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a research note on Monday, July 20th. Zacks Research upgraded shares of Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada reduced their price objective on Rayonier Advanced Materials from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Rayonier Advanced Materials presently has an average rating of "Hold" and an average target price of $13.00.

Rayonier Advanced Materials Stock Performance

NYSE:RYAM opened at $8.52 on Wednesday. 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 Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $11.85. The firm has a market cap of $576.23 million, a PE ratio of -4.06 and a beta of 1.76. The business has a 50 day moving average price of $8.31 and a 200-day moving average price of $9.05.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $376.14 million during the quarter, compared to analysts' expectations of $362.00 million. Equities research analysts predict that Rayonier Advanced Materials Inc. will post -1.28 earnings per share 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.

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