SummitTX Capital L.P. Takes $2.34 Million Position in Rayonier Advanced Materials Inc. $RYAM

SummitTX Capital L.P. purchased a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 211,487 shares of the basic materials company’s stock, valued at approximately $2,341,000. SummitTX Capital L.P. owned 0.31% of Rayonier Advanced Materials at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG grew its stake in Rayonier Advanced Materials by 1.5% during the 4th quarter. Deutsche Bank AG now owns 151,944 shares of the basic materials company’s stock worth $895,000 after buying an additional 2,292 shares during the last quarter. Barclays PLC lifted its stake in Rayonier Advanced Materials by 4.5% in the fourth quarter. Barclays PLC now owns 100,484 shares of the basic materials company’s stock valued at $592,000 after buying an additional 4,348 shares during the last quarter. Intech Investment Management LLC lifted its stake in Rayonier Advanced Materials by 19.1% in the fourth quarter. Intech Investment Management LLC now owns 27,725 shares of the basic materials company’s stock valued at $163,000 after buying an additional 4,438 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rayonier Advanced Materials by 13.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,121 shares of the basic materials company’s stock valued at $231,000 after acquiring an additional 4,714 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Rayonier Advanced Materials by 39.5% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 5,721 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

Wall Street Analysts Forecast Growth

RYAM has been the topic of a number of analyst reports. Royal Bank Of Canada dropped their price objective on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Friday, July 17th. Zacks Research cut shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, 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. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $13.00.

Rayonier Advanced Materials Trading Up 3.1%

Shares of RYAM stock opened at $8.77 on Wednesday. Rayonier Advanced Materials Inc. has a 1 year low of $3.35 and a 1 year high of $11.85. The firm has a market capitalization of $591.18 million, a PE ratio of -1.24 and a beta of 1.78. The stock has a fifty day moving average of $8.24 and a two-hundred day moving average of $8.94. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. The business had revenue of $319.06 million for the quarter, compared to analyst estimates of $302.63 million. As a group, research analysts expect that Rayonier Advanced Materials Inc. will post -1.16 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.