Rayonier Advanced Materials Inc. (NYSE:RYAM) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 21.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,592 shares of the basic materials company’s stock after purchasing an additional 61,054 shares during the period. Empowered Funds LLC’s holdings in Rayonier Advanced Materials were worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RYAM. Quarry LP purchased a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at about $29,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at about $61,000. nVerses Capital LLC increased its holdings in shares of Rayonier Advanced Materials by 121.9% in the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 3,900 shares during the last quarter. Truist Financial Corp purchased a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at about $66,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Rayonier Advanced Materials in the 1st quarter valued at about $100,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RYAM. Royal Bank of Canada increased their price objective on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Friday, November 15th.

Rayonier Advanced Materials Trading Down 1.1 %

NYSE:RYAM opened at $9.05 on Wednesday. The stock’s 50 day moving average price is $8.41 and its 200 day moving average price is $6.84. The company has a market capitalization of $596.58 million, a PE ratio of -7.15 and a beta of 3.01. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. Rayonier Advanced Materials Inc. has a 52-week low of $3.02 and a 52-week high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same quarter last year, the business posted ($0.41) EPS. On average, research analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.