Hudson Bay Capital Management LP Invests $1.27 Million in Rayonier Advanced Materials Inc. $RYAM

Hudson Bay Capital Management LP bought a new stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 175,489 shares of the basic materials company’s stock, valued at approximately $1,267,000. Hudson Bay Capital Management LP owned about 0.26% of Rayonier Advanced Materials at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Verition Fund Management LLC acquired a new position in shares of Rayonier Advanced Materials during the third quarter valued at about $209,000. Nantahala Capital Management LLC acquired a new stake in Rayonier Advanced Materials during the third quarter worth about $3,686,000. Millennium Management LLC increased its stake in 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 acquiring an additional 869,486 shares during the period. Jain Global LLC acquired a new position in Rayonier Advanced Materials in the 3rd quarter valued at approximately $230,000. Finally, Brevan Howard Capital Management LP raised its holdings in Rayonier Advanced Materials by 215.3% in the 3rd quarter. Brevan Howard Capital Management LP now owns 61,215 shares of the basic materials company’s stock valued at $442,000 after acquiring an additional 41,798 shares in the last quarter. 68.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on RYAM shares. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. 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 company. According to MarketBeat, Rayonier Advanced Materials presently has an average rating of “Hold” and an average target price of $14.00.

Rayonier Advanced Materials Stock Performance

Shares of Rayonier Advanced Materials stock opened at $10.41 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.58 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $8.99 and a 200 day simple moving average of $7.40. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $11.85. The firm has a market cap of $697.37 million, a P/E ratio of -1.65 and a beta of 2.14.

Rayonier Advanced Materials (NYSE:RYAM) last released its 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 firm had revenue of $417.55 million during the quarter, compared to analyst estimates of $364.07 million. Rayonier Advanced Materials had a negative net margin of 28.65% and a negative return on equity of 19.70%. Sell-side analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

About Rayonier Advanced Materials

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.