Rayonier Advanced Materials Inc. $RYAM Shares Sold by UBS Group AG

UBS Group AG cut its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 52.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 372,884 shares of the basic materials company’s stock after selling 410,581 shares during the period. UBS Group AG’s holdings in Rayonier Advanced Materials were worth $2,196,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Tactive Advisors LLC raised its holdings in Rayonier Advanced Materials by 18.0% in the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock valued at $78,000 after buying an additional 2,032 shares during the period. Hudson Bay Capital Management LP purchased a new position in Rayonier Advanced Materials in the third quarter valued at approximately $1,267,000. Verition Fund Management LLC purchased a new position in Rayonier Advanced Materials in the third quarter valued at approximately $209,000. Nantahala Capital Management LLC purchased a new position in Rayonier Advanced Materials in the third quarter valued at approximately $3,686,000. Finally, Millennium Management LLC raised its holdings in Rayonier Advanced Materials by 177.3% in 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 period. 68.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on RYAM. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Royal Bank Of Canada raised their price target on shares of Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.00.

Rayonier Advanced Materials Trading Up 2.3%

RYAM opened at $9.11 on Thursday. The firm has a market capitalization of $614.51 million, a P/E ratio of -1.29 and a beta of 1.79. The firm’s 50 day moving average is $9.80 and its 200-day moving average is $8.30. Rayonier Advanced Materials Inc. has a 52-week low of $3.35 and a 52-week high of $11.85. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 3.21.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60). The firm had revenue of $319.07 million for the quarter, compared to analysts’ expectations of $302.63 million. Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. Analysts expect that Rayonier Advanced Materials Inc. will post -0.59 EPS for the current fiscal 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.