SummerHaven Investment Management LLC Makes New Investment in Rayonier Advanced Materials Inc. $RYAM

SummerHaven Investment Management LLC acquired a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 138,985 shares of the basic materials company’s stock, valued at approximately $1,190,000. SummerHaven Investment Management LLC owned about 0.21% of Rayonier Advanced Materials at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RYAM. BOK Financial Private Wealth Inc. acquired a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth about $37,000. Public Employees Retirement System of Ohio bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth about $41,000. Legal & General Group Plc bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth about $48,000. The Manufacturers Life Insurance Company bought a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth about $133,000. Finally, Tactive Advisors LLC grew its stake in Rayonier Advanced Materials by 29.6% in the 3rd quarter. Tactive Advisors LLC now owns 18,277 shares of the basic materials company’s stock valued at $146,000 after buying an additional 4,170 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on RYAM. Wall Street Zen raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday. 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 report on Friday, July 17th. Finally, Zacks Research raised 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.00.

Rayonier Advanced Materials Stock Performance

Shares of NYSE RYAM opened at $6.98 on Friday. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.37 and a quick ratio of 0.85. The stock’s fifty day moving average price is $8.14 and its two-hundred day moving average price is $8.60. Rayonier Advanced Materials Inc. has a one year low of $5.38 and a one year high of $11.85. The firm has a market cap of $472.43 million, a price-to-earnings ratio of -3.33 and a beta of 1.84.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results 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 for the quarter, compared to analyst estimates of $362.00 million. On average, equities analysts forecast that Rayonier Advanced Materials Inc. will post -1.28 EPS for the current year.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc (NYSE:RYAM) is a specialty materials company that produces cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, acetate tow and other cellulose derivatives used in products such as pharmaceutical excipients, food ingredients, coatings, films, fibers and cigarette filters.

The company also manufactures commodity products, including fluff pulp and other forms of cellulose pulp, which are used in absorbent hygiene products, paper and packaging.