Geode Capital Management LLC Purchases 26,032 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Geode Capital Management LLC lifted its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,492,578 shares of the basic materials company’s stock after purchasing an additional 26,032 shares during the quarter. Geode Capital Management LLC’s holdings in Rayonier Advanced Materials were worth $12,779,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RYAM. Quarry LP bought a new stake in Rayonier Advanced Materials during the 2nd quarter worth about $29,000. nVerses Capital LLC lifted its position in 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 valued at $61,000 after purchasing an additional 3,900 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials during 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 acquired a new position in Rayonier Advanced Materials during the 3rd quarter valued at about $139,000. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Stock Up 6.7 %

Rayonier Advanced Materials stock opened at $8.08 on Tuesday. The company’s 50 day simple moving average is $8.40 and its 200 day simple moving average is $7.50. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.15 and a fifty-two week high of $10.28. The firm has a market capitalization of $532.60 million, a price-to-earnings ratio of -6.31 and a beta of 3.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. During the same quarter last year, the firm earned ($0.41) EPS. As a group, sell-side analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Eric Bowen purchased 12,500 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $8.04 per share, with a total value of $100,500.00. Following the completion of the purchase, the director now owns 12,500 shares in the company, valued at $100,500. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on RYAM. Royal Bank of Canada upped their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

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.