Aip LLC Takes Position in Rayonier Advanced Materials Inc. $RYAM

Aip LLC purchased a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,400,000 shares of the basic materials company's stock, valued at approximately $26,724,000. Rayonier Advanced Materials makes up approximately 0.0% of Aip LLC's investment portfolio, making the stock its 2nd largest holding. Aip LLC owned about 5.03% of Rayonier Advanced Materials as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $37,437,000. Nantahala Capital Management LLC boosted its stake in shares of Rayonier Advanced Materials by 252.6% in the 4th quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company's stock valued at $10,602,000 after purchasing an additional 1,289,490 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rayonier Advanced Materials by 26.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company's stock valued at $9,942,000 after purchasing an additional 348,589 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Rayonier Advanced Materials by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,548,346 shares of the basic materials company's stock valued at $9,122,000 after purchasing an additional 9,234 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Rayonier Advanced Materials by 177.3% in the 3rd quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company's stock valued at $9,817,000 after purchasing an additional 869,486 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reduced 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 note on Friday, July 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. Zacks Research upgraded Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. 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 analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Rayonier Advanced Materials has an average rating of "Hold" and an average price target of $13.00.

Rayonier Advanced Materials Price Performance

Rayonier Advanced Materials stock opened at $8.64 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 3.83. The company has a market capitalization of $584.41 million, a PE ratio of -4.11 and a beta of 1.77. Rayonier Advanced Materials Inc. has a 12 month low of $5.38 and a 12 month high of $11.85. The stock has a 50-day moving average price of $8.24 and a two-hundred day moving average price of $9.02.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted 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). The firm 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%. Analysts expect that Rayonier Advanced Materials Inc. will post -1.28 EPS for the current 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.