Rayonier Advanced Materials Inc. (NYSE:RYAM) Stock Position Raised by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC increased its position in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 100.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 233,700 shares of the basic materials company's stock after purchasing an additional 117,000 shares during the period. Horizon Kinetics Asset Management LLC owned 0.35% of Rayonier Advanced Materials worth $2,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in Rayonier Advanced Materials during the 2nd quarter valued at approximately $29,000. 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 worth $61,000 after acquiring an additional 3,900 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Rayonier Advanced Materials in the 2nd quarter valued at about $61,000. Truist Financial Corp acquired a new position in Rayonier Advanced Materials during the 2nd quarter valued at about $66,000. Finally, Intech Investment Management LLC bought a new position in Rayonier Advanced Materials in the 3rd quarter worth about $139,000. Institutional investors and hedge funds own 68.64% of the company's stock.

Wall Street Analyst Weigh In

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

Rayonier Advanced Materials Price Performance

RYAM stock traded down $0.09 during trading on Tuesday, hitting $8.82. The company had a trading volume of 422,792 shares, compared to its average volume of 536,417. The business has a 50 day moving average of $8.56 and a 200 day moving average of $7.04. The firm has a market capitalization of $581.38 million, a price-to-earnings ratio of -6.89 and a beta of 3.01. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its quarterly earnings results 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. 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 analyst estimates of $412.20 million. During the same period in the prior year, the business posted ($0.41) EPS. As a group, research analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share 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.