BlackRock Inc. Purchases Shares of 4,762,969 Rayonier Advanced Materials Inc. $RYAM

Key Points

• BlackRock purchased 4.76 million shares of Rayonier Advanced Materials in the second quarter, worth approximately $37.4 million and representing a 7.06% stake.
• Institutional ownership stands at 68.64%, with several other funds—including Nantahala Capital Management and Millennium Management—also significantly increasing their positions.
• RYAM reported a quarterly loss of $0.30 per share, missing estimates, while analysts maintain a consensus “Hold” rating and a $13.00 average price target.

BlackRock Inc. purchased a new stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,762,969 shares of the basic materials company's stock, valued at approximately $37,437,000. BlackRock Inc. owned about 7.06% of Rayonier Advanced Materials as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nantahala Capital Management LLC grew its position in Rayonier Advanced Materials by 252.6% during the fourth quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company's stock valued at $10,602,000 after buying an additional 1,289,490 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Rayonier Advanced Materials by 26.0% during the fourth 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 buying an additional 348,589 shares during the last quarter. Geode Capital Management LLC raised its position in Rayonier Advanced Materials by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,548,346 shares of the basic materials company's stock worth $9,122,000 after acquiring an additional 9,234 shares during the period. Millennium Management LLC raised its position in Rayonier Advanced Materials by 177.3% in the third quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company's stock worth $9,817,000 after acquiring an additional 869,486 shares during the period. Finally, Irenic Capital Management LP purchased a new position in shares of Rayonier Advanced Materials during the 1st quarter worth $15,013,000. Institutional investors own 68.64% of the company's stock.

Rayonier Advanced Materials Price Performance

Shares of NYSE:RYAM opened at $8.34 on Wednesday. The company has a market capitalization of $564.12 million, a P/E ratio of -3.97 and a beta of 1.76. Rayonier Advanced Materials Inc. has a 1-year low of $5.38 and a 1-year high of $11.85. The firm's 50 day simple moving average is $8.25 and its two-hundred day simple moving average is $9.03. 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 (NYSE:RYAM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $376.14 million during the quarter, compared to analysts' expectations of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%. Research analysts expect that Rayonier Advanced Materials Inc. will post -1.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on RYAM. Royal Bank Of Canada reduced their price objective 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. 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 raised Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. One 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $13.00.

Rayonier Advanced Materials 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.

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