Massachusetts Financial Services Co. MA Buys New Stake in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Massachusetts Financial Services Co. MA purchased a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 300,728 shares of the basic materials company's stock, valued at approximately $2,574,000. Massachusetts Financial Services Co. MA owned about 0.46% of Rayonier Advanced Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Rayonier Advanced Materials by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company's stock valued at $16,334,000 after acquiring an additional 31,281 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Rayonier Advanced Materials by 30.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company's stock valued at $3,429,000 after acquiring an additional 168,222 shares during the last quarter. Boston Partners boosted its stake in Rayonier Advanced Materials by 1,923.5% in the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company's stock valued at $10,307,000 after acquiring an additional 2,054,715 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Rayonier Advanced Materials in the second quarter valued at about $541,000. Finally, Bank of New York Mellon Corp boosted its stake in Rayonier Advanced Materials by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 333,677 shares of the basic materials company's stock valued at $1,815,000 after acquiring an additional 24,627 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on RYAM shares. Royal Bank of Canada upped their target price on shares of 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 raised shares of Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a report on Friday, November 15th.

Rayonier Advanced Materials Price Performance

RYAM stock traded down $0.10 during trading on Wednesday, reaching $8.72. The company's stock had a trading volume of 323,777 shares, compared to its average volume of 535,573. Rayonier Advanced Materials Inc. has a 1 year low of $3.02 and a 1 year high of $10.28. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The company's fifty day moving average is $8.56 and its 200-day moving average is $7.04.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, topping 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 company had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. During the same quarter last year, the business posted ($0.41) earnings per share. Analysts predict 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.