Eric Bowen, a director at Rayonier Advanced Materials Inc. (NYSE:RYAM), recently purchased 12,500 shares of the company's common stock. The $508 million market cap company has seen its stock surge over 100% in the past year, though InvestingPro data shows significant price volatility with a beta of 3.02. The shares were acquired at a weighted average price of $8.04 per share, with the transaction totaling approximately $100,499. The purchase was executed on December 13, 2024, and represents Bowen's direct ownership of the shares. The transaction was conducted in multiple trades at prices ranging from $7.99 to $8.10. Following this transaction, Bowen now holds 12,500 shares in the company. According to InvestingPro analysis, the stock appears undervalued, with analyst price targets ranging from $12 to $13. Get comprehensive insider trading analysis and more with InvestingPro's detailed research reports.
In other recent news, Rayonier (NYSE:RYN) Advanced Materials Inc. has made significant changes to its debt structure, including amending its credit agreement and prepaying and terminating existing loan agreements. The company's subsidiary, Rayonier A.M. Products, has reduced its revolving commitments from $200 million to $175 million and extended the maturity date to 2029. Additionally, the company's Luxembourg-based subsidiary, RYAM Lux SARL, prepaid and terminated its existing Term Loan Credit Agreement and the associated Pari Passu Credit Agreement through a new borrowing of $700 million in term loans.
In the latest earnings report, Rayonier Advanced Materials Inc. reported a significant year-over-year increase in earnings for the third quarter of 2024, with adjusted EBITDA rising to $51 million, a 113% increase. Despite a fire incident at its Jesup, Georgia facility, the company has held its EBITDA guidance steady for the year while raising its free cash flow projections. The High Purity Cellulose segment saw a 119% rise in EBITDA due to higher prices and reduced costs.
Furthermore, Rayonier Advanced Materials is set to begin operations of a bioethanol plant in late 2026 as part of its biomaterials initiatives. The company maintains a strong liquidity position with a last twelve months adjusted EBITDA of $208 million and has announced a price increase of up to 10% for cellular specialty products. These are recent developments reflecting the company's strategic focus on enhancing profitability, reducing debt, and aligning with market demand for sustainable products.
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