Empowered Funds LLC Invests $3.14 Million in Rayonier Advanced Materials Inc. $RYAM

Key Points

• Empowered Funds LLC acquired 399,272 shares of Rayonier Advanced Materials, valued at approximately $3.14 million and representing about 0.59% of the company. Institutional investors collectively own 68.64% of RYAM.
• Analyst sentiment remains mixed, with ratings spanning Buy, Hold, and Sell. The consensus rating is Hold, with an average price target of $13.00.
• RYAM reported a quarterly loss of $0.30 per share, missing expectations by $0.08, though revenue of $376.14 million exceeded estimates. Shares opened at $8.34, while analysts expect a full-year loss of $1.28 per share.

Empowered Funds LLC acquired a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 399,272 shares of the basic materials company's stock, valued at approximately $3,138,000. Empowered Funds LLC owned about 0.59% of Rayonier Advanced Materials as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Rayonier Advanced Materials during the second quarter worth $37,437,000. Aip LLC bought a new position in Rayonier Advanced Materials in the second quarter valued at $26,724,000. Irenic Capital Management LP acquired a new stake in Rayonier Advanced Materials in the 1st quarter valued at $15,013,000. Nantahala Capital Management LLC increased its stake in 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 buying an additional 1,289,490 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Rayonier Advanced Materials by 177.3% during the 3rd quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company's stock worth $9,817,000 after buying an additional 869,486 shares in the last quarter. Institutional investors own 68.64% of the company's stock.

Analyst Ratings Changes

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

Rayonier Advanced Materials Stock Performance

Shares of RYAM stock opened at $8.34 on Wednesday. The company has a market capitalization of $564.12 million, a price-to-earnings ratio of -3.97 and a beta of 1.76. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.85 and a current ratio of 1.37. The company has a 50-day simple moving average of $8.25 and a 200 day simple moving average of $9.03. Rayonier Advanced Materials Inc. has a 52 week low of $5.38 and a 52 week high of $11.85.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The company had revenue of $376.14 million for the quarter, compared to analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%. On average, sell-side analysts predict that Rayonier Advanced Materials Inc. will post -1.28 earnings per share 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.

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