Rayonier Advanced Materials Inc. (NYSE:RYAM) Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 157.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,891 shares of the basic materials company's stock after acquiring an additional 306,640 shares during the quarter. JPMorgan Chase & Co. owned 0.76% of Rayonier Advanced Materials worth $4,288,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Quarry LP purchased a new stake in Rayonier Advanced Materials in the 2nd quarter valued at approximately $29,000. nVerses Capital LLC lifted its stake in shares of Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company's stock worth $61,000 after purchasing an additional 3,900 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth $61,000. Truist Financial Corp purchased a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth $66,000. Finally, Intech Investment Management LLC purchased a new position in shares of Rayonier Advanced Materials during the 3rd quarter worth $139,000. Hedge funds and other institutional investors own 68.64% of the company's stock.

Rayonier Advanced Materials Trading Down 1.2 %

Shares of RYAM stock traded down $0.09 on Friday, reaching $7.55. 209,285 shares of the stock were exchanged, compared to its average volume of 438,391. The stock has a market cap of $497.70 million, a P/E ratio of -5.90 and a beta of 3.02. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average of $8.27 and a two-hundred day moving average of $7.69. Rayonier Advanced Materials Inc. has a 1-year low of $3.15 and a 1-year high of $10.28.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RYAM. StockNews.com lowered Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research note on Friday, December 20th. Royal Bank of Canada upped 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.

Insider Activity at Rayonier Advanced Materials

In other news, Director Eric Bowen acquired 12,500 shares of the firm's stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $8.04 per share, with a total value of $100,500.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $100,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.26% of the stock is owned by insiders.

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.