JPMorgan Chase & Co. Lowers Holdings in Rayonier Advanced Materials Inc. $RYAM

Key Points

• JPMorgan Chase reduced its stake in Rayonier Advanced Materials by 14.1% in Q3, selling 97,508 shares and retaining 595,235 shares (about 0.89% of the company, valued at ~$4.3M).
• Other institutions were active: Millennium Management increased its holding by 177.3% to 1.36M shares and UBS also added significantly, with institutional ownership now at 68.64%.
• Analysts are mixed — RBC raised its price target to $14 and rated the stock "outperform," but the consensus is a Hold with a $14 target; the company recently missed EPS (-$0.28 vs. -$0.09) while beating revenue.

JPMorgan Chase & Co. trimmed its position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 14.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 595,235 shares of the basic materials company's stock after selling 97,508 shares during the quarter. JPMorgan Chase & Co. owned about 0.89% of Rayonier Advanced Materials worth $4,298,000 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. Millennium Management LLC grew its holdings in shares of Rayonier Advanced Materials by 177.3% during the third quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company's stock valued at $9,817,000 after buying an additional 869,486 shares during the last quarter. Nantahala Capital Management LLC purchased a new stake in Rayonier Advanced Materials during the 3rd quarter valued at $3,686,000. UBS Group AG increased its holdings in shares of Rayonier Advanced Materials by 156.9% in the 3rd quarter. UBS Group AG now owns 783,465 shares of the basic materials company's stock worth $5,657,000 after purchasing an additional 478,500 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Rayonier Advanced Materials in the third quarter worth $1,267,000. Finally, American Century Companies Inc. lifted its holdings in shares of Rayonier Advanced Materials by 6.1% during the third quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company's stock valued at $19,646,000 after purchasing an additional 155,268 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RYAM has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an "outperform" rating in a report on Thursday, March 5th. Wall Street Zen raised shares of Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Rayonier Advanced Materials presently has an average rating of "Hold" and a consensus target price of $14.00.

Rayonier Advanced Materials Trading Down 4.6%

Shares of NYSE:RYAM opened at $10.63 on Friday. The stock's 50-day simple moving average is $9.47 and its two-hundred day simple moving average is $7.69. The stock has a market capitalization of $716.09 million, a price-to-earnings ratio of -1.68 and a beta of 2.03. Rayonier Advanced Materials Inc. has a 52-week low of $3.35 and a 52-week high of $11.85. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.92 and a current ratio of 1.58.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.19). The business had revenue of $417.55 million for the quarter, compared to analysts' expectations of $364.07 million. Rayonier Advanced Materials had a negative net margin of 28.65% and a negative return on equity of 19.70%. Analysts expect that Rayonier Advanced Materials Inc. will post -0.08 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.

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