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Rayonier Inc. (RYN)

  • Jun. 30, 2014, 8:46 AM
    • Rayonier (RYN) completed the spinoff of Rayonier Advanced Materials (RYAM) over the weekend.
    • Both DA Davidson and RBC Capital downgrade RYN to Neutral.
    • Source: Press Release
    • RYN is trading at $36.19 premarket vs. Friday's $48.50 close.
    | 1 Comment
  • Jun. 16, 2014, 8:35 AM
    • Reporting "significant progress" towards the separation of its Performance Fibers business, Rayonier (RYN) says its firmly on track to close the deal, effective June 27.
    • Rayonier Advanced Materials will trade on the NYSE under the symbol RYAM.
    • Source: Press Release
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  • Jun. 10, 2014, 10:44 AM
    • Rayonier (RYN) Chairman and CEO Paul Boynton will host a conference call to update investors on progress towards the spinoff of the company's performance fibers business (to be named Rayonier Advanced Materials).
    • Tomorrow's 7 AM ET call (webcast here) - ahead of investor meetings over the next two weeks and the spinoff date of June 27 - will include discussion on the makeup of the board and management, capital structure, the planned dividend, and the company's strategic direction.
    • Source: Press Release
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  • May. 30, 2014, 8:10 AM
    • Moving closer to the spinoff of its performance fibers business, Rayonier (RYN) announces the members of the boards for both it and Rayonier Advanced Materials once the separation is complete.
    • Source: Press Release
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  • May. 12, 2014, 10:29 AM
    • David Nunes will join Rayonier (RYN +0.8%) on June 9 as COO and - upon the mid-year separation of the performance fibers unit - will become CEO of Rayonier. Current Chairman and CEO Paul Boynton will become Chairman and CEO of the spun-off Rayonier Advanced Materials.
    • Nunes has been CEO of Pope Resources (POPE) since 2002.
    • Press release
  • Apr. 29, 2014, 12:42 PM
    • Forest Resources sales of $105M and operating income of $28M, up $48M and $14M, respectively a year ago.
    • Real Estate sales of $6M and operating income of $1M, fell $19M and $16M, respectively from one year ago, with management blaming lower traffic due to the weather as well as the timing of closings.
    • Performance Fibers sales of $242M and operating income of $49M, fell $42M and $43M, respectively from one year ago. Management notes the planned extended annual outage of the Jesup mill as well as previously announced lower cellulose specialties prices, rough weather, and boosted manufacturing costs.
    • Spinoff of Performance Fibers unit - to be named Rayonier Advanced Materials - is on track for middle part of this year.
    • Rayonier (RYN -4.4%) full year outlook: Forest Resources results should surpass 2013, while Real Estate is expected to be comparable over the full year. Performance Fibers is expected to fall short of 2013 thanks to higher Q1 costs.
    • Source: Press Release
    • Previously: Rayonier misses by $0.09, misses on revenue
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  • Apr. 29, 2014, 8:04 AM
    • Rayonier (RYN): Q1 EPS of $0.36 misses by $0.09.
    • Revenue of $386.7M (-1.8% Y/Y) misses by $13.8M.
    • Press Release
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  • Feb. 14, 2014, 2:56 PM
    • Kyle Bass timed his Herbalife (HLF -0.9%) trade fairly well, exiting his entire stake by year's end after getting in sometime during Q3.
    • His just-filed 13F shows continued bets on real estate-related names, with new holdings in specialty servicer Nationstar Mortgage (NSM -1.5%), distressed-home buyer (and member of the OCN chain) Altisource Residential (RESI +1.2%), and Rayonier (RYN -0.2%). Bass is already a large owner in recently-gone-public mortgage insurer NMI Holdings (NMIH -1%).
    • He also shows new stakes in a number of energy companies: Kinder Morgan (KMI +0.2%), Comstock (CRK +1.2%), and Occidental Petroleum (OXY +4%).
  • Jan. 27, 2014, 9:09 AM
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  • Jan. 27, 2014, 8:20 AM
    • Rayonier Inc. (RYN): Q4 EPS of $0.62 beats by $0.12.
    • Revenue of $520.2M (+19.8% Y/Y) beats by $77.84M.
    | 1 Comment
  • Jan. 27, 2014, 8:15 AM
    • The tax-free spinoff of Raynoier's (RYN) performance fibers business from the forest resources and real estate operations will result in two independent, publicly traded companies.
    • "With an improving U.S. housing market, strong timber export markets, and the successful expansion of our cellulose specialties capacity, we concluded that now is the optimal time to pursue the separation of these two non-integrated businesses," says CEO Paul Boynton. “While these businesses have historically provided Rayonier with balance and financial strength, the company has evolved into two distinct businesses and investment opportunities."
    • Shares +11.1% premarket
    • Press release
    • Presentation slides
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  • Jan. 27, 2014, 12:05 AM
  • Jan. 26, 2014, 5:30 PM
  • Dec. 26, 2013, 5:37 PM
    • Top gainers, as of 5:15 p.m.: PFF +2.1%. RYN +1.9%. PKD +1.8%. CSV +1.5%. VISN +1.4%.
    • Top losers, as of 5:15 p.m.: CAMT -2.6%. GSL -2.6%. OTIV -1.7%. SLV -1.4%. NIHD -1.2%.
  • Dec. 17, 2013, 8:03 AM
    • Following the conclusions of negotiations with customers, Rayonier (RYN) expects cellulose specialties prices to fall 7-8% next year, consistent with the market pressure management talked about in its earnings call (transcript) in October. Volumes look a little better-than-expected, increasing 30K-50K tons to 520K-540K, above previous estimates for a 15K-40K boost. The combination has the company expecting CAD in 2014 to be at or above 2013.
    • Higher CAD sounds nice, says Buckingham Research, but it should be well higher given a significant reduction in capex following the completion of the Jessup conversion. The team cuts its 2014 EPS estimate to $2 from $2.35 and reduces its price target on the Hold-rated stock to $47 from $53.
    • Press release
    | 1 Comment
  • Dec. 12, 2013, 7:58 AM
    • JPMorgan's Phil Gresh takes a peek into the timber REIT industry, initiating Weyerhaeuser (WY) with a Buy and $37 price target and Rayonier (RYN) with a Sell and $48 price target.
    • "We see WY as a unique demand/cost-takeout story in the timber REIT sector. On the demand side, WY should benefit from a steady improvement in domestic housing...and international log markets."
    • On RYN: "Our primary concern is that potentially slowing demand, when combined with excess supply in a high-margin business, could lead to a multi-year pricing headwind."
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Company Description
Rayonier Inc is an international forest products company. It is engaged in activities associated with timberland management, sale and entitlement of real estate, and production and sale of high value specialty cellulose fibers.
Sector: Financial
Country: United States