Verition Fund Management LLC Invests $428,000 in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Verition Fund Management LLC bought a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 50,000 shares of the basic materials company’s stock, valued at approximately $428,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of Rayonier Advanced Materials by 760.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 183,971 shares of the basic materials company’s stock worth $1,575,000 after acquiring an additional 162,588 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in shares of Rayonier Advanced Materials by 100.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 233,700 shares of the basic materials company’s stock worth $2,000,000 after acquiring an additional 117,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth about $171,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth about $2,574,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Rayonier Advanced Materials during the 3rd quarter worth about $139,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Analyst Ratings Changes

RYAM has been the topic of a number of research reports. Royal Bank of Canada raised their price target on Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Thursday, December 5th.

Rayonier Advanced Materials Trading Down 0.7 %

NYSE:RYAM opened at $8.07 on Friday. The stock’s 50 day moving average price is $8.58 and its 200 day moving average price is $7.30. Rayonier Advanced Materials Inc. has a 52-week low of $3.15 and a 52-week high of $10.28. The company has a market capitalization of $531.94 million, a PE ratio of -6.30 and a beta of 3.01. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share 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 company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. During the same period last year, the business posted ($0.41) EPS. On average, research analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Rayonier Advanced Materials 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.