Empowered Funds LLC Buys 61,054 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Empowered Funds LLC increased its position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 21.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,592 shares of the basic materials company's stock after buying an additional 61,054 shares during the quarter. Empowered Funds LLC owned 0.52% of Rayonier Advanced Materials worth $2,907,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Quarry LP acquired a new stake in Rayonier Advanced Materials during the second quarter valued at approximately $29,000. nVerses Capital LLC boosted its holdings in Rayonier Advanced Materials by 121.9% during the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company's stock valued at $61,000 after purchasing an additional 3,900 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Rayonier Advanced Materials during the second quarter valued at approximately $61,000. Truist Financial Corp acquired a new stake in Rayonier Advanced Materials during the second quarter valued at approximately $66,000. Finally, EntryPoint Capital LLC acquired a new stake in Rayonier Advanced Materials during the first quarter valued at approximately $100,000. 68.64% of the stock is owned by institutional investors and hedge funds.

Rayonier Advanced Materials Price Performance

Shares of NYSE:RYAM traded down $0.12 during trading on Wednesday, reaching $8.93. The stock had a trading volume of 72,185 shares, compared to its average volume of 537,949. Rayonier Advanced Materials Inc. has a 52 week low of $3.02 and a 52 week high of $10.28. The business's 50-day moving average price is $8.44 and its 200 day moving average price is $6.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The stock has a market capitalization of $588.67 million, a PE ratio of -7.07 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.06. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. The company had revenue of $401.00 million during the quarter, compared to analysts' expectations of $412.20 million. During the same quarter in the previous year, the company posted ($0.41) earnings per share. As a group, equities analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RYAM has been the topic of a number of recent research reports. StockNews.com raised Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Royal Bank of Canada lifted 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.

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.