Lazard Asset Management LLC Purchases New Position in Rayonier Advanced Materials Inc. $RYAM

Lazard Asset Management LLC purchased a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 194,212 shares of the basic materials company’s stock, valued at approximately $2,150,000. Lazard Asset Management LLC owned 0.29% of Rayonier Advanced Materials as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. grew its position in shares of Rayonier Advanced Materials by 754.4% in the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 7,031 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in Rayonier Advanced Materials during the 4th quarter worth approximately $76,000. Dynamic Technology Lab Private Ltd bought a new stake in Rayonier Advanced Materials in the 4th quarter valued at $86,000. Balyasny Asset Management L.P. acquired a new position in Rayonier Advanced Materials in the 4th quarter valued at $117,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Rayonier Advanced Materials by 39.5% in the 4th 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 buying an additional 5,721 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. Royal Bank Of Canada lowered their price target on shares of 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. Zacks Research cut shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $13.00.

Rayonier Advanced Materials Stock Performance

Shares of Rayonier Advanced Materials stock opened at $8.96 on Monday. The firm has a market capitalization of $604.26 million, a P/E ratio of -1.27 and a beta of 1.77. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $11.85. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.37 and a quick ratio of 0.79. The company’s 50 day moving average price is $8.25 and its two-hundred day moving average price is $8.97.

Rayonier Advanced Materials (NYSE:RYAM) last issued 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 business had revenue of $319.06 million during the quarter, compared to the consensus estimate of $302.63 million. Rayonier Advanced Materials had a negative net margin of 32.86% and a negative return on equity of 43.24%. On average, equities analysts forecast that Rayonier Advanced Materials Inc. will post -1.16 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.