Nantahala Capital Management LLC Acquires Shares of 1,697,726 Rayonier Advanced Materials Inc. $RYAM

Key Points

• Nantahala Capital Management acquired 1,697,726 Rayonier Advanced Materials shares worth approximately $13.3 million, giving it a 2.51% stake. Institutional investors collectively own 68.64% of the company.
• Analyst sentiment remains mixed, with ratings split among Buy, Hold and Sell; the consensus rating is Hold with a $13.00 price target.
• RYAM recently traded at $8.64, up 2.6%, but reported a quarterly loss of $0.30 per share versus the expected $0.22 loss. Analysts forecast a full-year loss of $1.28 per share.

Nantahala Capital Management LLC acquired a new position in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,697,726 shares of the basic materials company's stock, valued at approximately $13,344,126. Nantahala Capital Management LLC owned 2.51% of Rayonier Advanced Materials at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in Rayonier Advanced Materials by 754.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company's stock valued at $31,000 after buying an additional 7,031 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at $37,000. Public Employees Retirement System of Ohio purchased a new position in Rayonier Advanced Materials in the second quarter valued at about $41,000. Legal & General Group Plc purchased a new position in shares of Rayonier Advanced Materials in the 2nd quarter worth approximately $48,000. Finally, Graham Capital Management L.P. purchased a new position in Rayonier Advanced Materials in the fourth quarter worth $76,000. Hedge funds and other institutional investors own 68.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RYAM shares. Weiss Ratings restated a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research note on Friday, July 17th. Zacks Research raised Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. 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 research report on Friday, July 17th. Finally, Wall Street Zen raised Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.00.

Rayonier Advanced Materials Stock Up 2.6%

RYAM opened at $8.64 on Friday. Rayonier Advanced Materials Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $11.85. 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 fifty day moving average of $8.24 and a two-hundred day moving average of $9.02. The stock has a market capitalization of $584.41 million, a price-to-earnings ratio of -4.11 and a beta of 1.77.

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 for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.08). Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%.The firm had revenue of $376.14 million during the quarter, compared to analyst estimates of $362.00 million. On average, research analysts expect that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current year.

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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