Quarry LP Makes New $29,000 Investment in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Quarry LP bought a new position in Rayonier Advanced Materials Inc. (NYSE:RYAM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,258 shares of the basic materials company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV purchased a new position in Rayonier Advanced Materials during the second quarter valued at approximately $61,000. EntryPoint Capital LLC bought a new position in shares of Rayonier Advanced Materials in the 1st quarter worth $100,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Rayonier Advanced Materials by 4,134.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 27,566 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 26,915 shares during the last quarter. XTX Topco Ltd bought a new stake in Rayonier Advanced Materials during the second quarter valued at about $153,000. Finally, Marshall Wace LLP purchased a new position in Rayonier Advanced Materials in the second quarter valued at about $178,000. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Price Performance

Shares of NYSE RYAM opened at $8.76 on Tuesday. Rayonier Advanced Materials Inc. has a fifty-two week low of $2.66 and a fifty-two week high of $8.92. The company has a market cap of $577.20 million, a PE ratio of -5.44 and a beta of 2.99. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.69. The business has a 50-day simple moving average of $7.56 and a two-hundred day simple moving average of $5.93.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.26. The business had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. During the same quarter in the prior year, the business posted ($0.25) EPS. As a group, equities analysts expect that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RYAM. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada raised their target price on shares of Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th.

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.