Aip LLC Buys New Stake in Rayonier Advanced Materials Inc. $RYAM

Key Points

• Aip LLC acquired 3.4 million shares of Rayonier Advanced Materials, valued at about $26.7 million, giving it a 5.03% stake and making RYAM 28.1% of the fund’s portfolio.
• Analyst sentiment remains mixed, but the consensus rating is Hold with a $13.00 price target. Recent upgrades moved the stock from “sell” to “hold,” while RBC maintained an “outperform” rating but cut its target to $13.
• RYAM reported a quarterly loss of $0.30 per share, missing estimates of a $0.22 loss, despite revenue of $376.14 million exceeding expectations. The company has elevated leverage, including a debt-to-equity ratio of 3.83, and analysts expect a full-year loss of $1.28 per share.

Aip LLC bought a new stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,400,000 shares of the basic materials company's stock, valued at approximately $26,724,000,000. Rayonier Advanced Materials makes up 28.1% of Aip LLC's portfolio, making the stock its 2nd largest position. Aip LLC owned approximately 5.03% of Rayonier Advanced Materials as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its stake in shares of Rayonier Advanced Materials by 754.4% during the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 7,031 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in Rayonier Advanced Materials in the 2nd quarter valued at about $37,000. Graham Capital Management L.P. bought a new position in Rayonier Advanced Materials in the 4th quarter valued at about $76,000. Dynamic Technology Lab Private Ltd acquired a new position in Rayonier Advanced Materials during the 4th quarter valued at about $86,000. Finally, Balyasny Asset Management L.P. acquired a new position in Rayonier Advanced Materials during the 4th quarter valued at about $117,000. Institutional investors and hedge funds own 68.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank Of Canada dropped 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research note on Friday, July 17th. Wall Street Zen raised Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Zacks Research upgraded Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. One investment 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.00.

Rayonier Advanced Materials Price Performance

Shares of Rayonier Advanced Materials stock opened at $8.73 on Thursday. Rayonier Advanced Materials Inc. has a 52 week low of $4.92 and a 52 week high of $11.85. 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 stock has a market cap of $590.77 million, a PE ratio of -4.16 and a beta of 1.77. The company's 50-day moving average price is $8.28 and its two-hundred day moving average price is $9.00.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last released its earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) 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 return on equity of 46.19% and a negative net margin of 9.53%. As a group, sell-side analysts anticipate 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.

Want to see what other hedge funds are holding RYAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source