Rayonier Advanced Materials Inc. (NYSE:RYAM) Position Increased by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 5.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 356,960 shares of the basic materials company’s stock after acquiring an additional 17,368 shares during the period. Empowered Funds LLC’s holdings in Rayonier Advanced Materials were worth $2,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. nVerses Capital LLC boosted its holdings in shares of Rayonier Advanced Materials by 121.9% during the third 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 during the period. Truist Financial Corp bought a new stake in Rayonier Advanced Materials in the 2nd quarter valued at about $66,000. Intech Investment Management LLC acquired a new position in Rayonier Advanced Materials during the 3rd quarter valued at about $139,000. Quest Partners LLC bought a new position in Rayonier Advanced Materials in the 3rd quarter worth about $166,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rayonier Advanced Materials in the third quarter valued at approximately $171,000. 68.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eric Bowen bought 12,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired 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 directly owns 12,500 shares of the company’s stock, valued at $100,500. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.14% of the company’s stock.

Rayonier Advanced Materials Stock Up 2.9 %

Rayonier Advanced Materials stock opened at $7.28 on Friday. Rayonier Advanced Materials Inc. has a 52 week low of $3.15 and a 52 week high of $10.28. The stock has a market cap of $479.57 million, a price-to-earnings ratio of -5.68 and a beta of 2.99. The company’s 50-day moving average price is $7.81 and its two-hundred day moving average price is $7.96. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02.

Analyst Ratings Changes

Several brokerages have recently issued reports on RYAM. Royal Bank of Canada boosted their price objective on Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd.

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.