State Street Corp Acquires 16,139 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

State Street Corp raised its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 1.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,440,085 shares of the basic materials company’s stock after buying an additional 16,139 shares during the quarter. State Street Corp’s holdings in Rayonier Advanced Materials were worth $12,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new position in Rayonier Advanced Materials in the 2nd quarter worth $29,000. Mercer Global Advisors Inc. ADV bought a new position in Rayonier Advanced Materials in the second quarter worth about $61,000. nVerses Capital LLC lifted its holdings in Rayonier Advanced Materials by 121.9% in the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after buying an additional 3,900 shares during the period. Truist Financial Corp bought a new stake in Rayonier Advanced Materials during the 2nd quarter valued at approximately $66,000. Finally, Intech Investment Management LLC purchased a new position in shares of Rayonier Advanced Materials during the 3rd quarter worth approximately $139,000. Institutional investors own 68.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price objective on Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com lowered shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Insiders Place Their Bets

In other news, Director Eric Bowen purchased 12,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $8.04 per share, for a total transaction of $100,500.00. Following the purchase, the director now directly owns 12,500 shares in the company, valued at approximately $100,500. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.26% of the stock is owned by insiders.

Rayonier Advanced Materials Stock Performance

Shares of Rayonier Advanced Materials stock opened at $7.48 on Thursday. The stock has a market cap of $493.05 million, a price-to-earnings ratio of -5.84 and a beta of 3.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. Rayonier Advanced Materials Inc. has a 1 year low of $3.15 and a 1 year high of $10.28. The firm’s 50-day moving average is $8.41 and its 200 day moving average is $7.44.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The company had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same period in the previous year, the business earned ($0.41) EPS. Sell-side analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

About Rayonier Advanced Materials

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.