Massachusetts Financial Services Co. MA Makes New $2.57 Million Investment in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Massachusetts Financial Services Co. MA bought a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 300,728 shares of the basic materials company’s stock, valued at approximately $2,574,000.

Other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC grew 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 valued at $61,000 after acquiring an additional 3,900 shares in the last quarter. Quarry LP bought a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at about $29,000. Mercer Global Advisors Inc. ADV acquired a new stake in Rayonier Advanced Materials in the 2nd quarter valued at about $61,000. Truist Financial Corp acquired a new stake in Rayonier Advanced Materials in the 2nd quarter valued at about $66,000. Finally, Intech Investment Management LLC acquired a new stake in Rayonier Advanced Materials in the 3rd quarter valued at about $139,000. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Stock Down 1.0 %

NYSE RYAM opened at $8.82 on Wednesday. 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 1-year low of $3.02 and a 1-year high of $10.28. The company has a 50 day moving average of $8.56 and a 200-day moving average of $7.04. The company has a market cap of $581.38 million, a price-to-earnings ratio of -6.89 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, beating 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 the consensus estimate of $412.20 million. During the same period in the previous year, the business earned ($0.41) earnings per share. On average, equities research analysts expect that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised 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 note on Thursday, November 7th. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Friday, November 15th.

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.