Inspire Investing LLC Makes New Investment in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Inspire Investing LLC bought a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,918 shares of the basic materials company’s stock, valued at approximately $410,000. Inspire Investing LLC owned approximately 0.07% of Rayonier Advanced Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quarry LP bought a new position in Rayonier Advanced Materials in the 2nd quarter valued at $29,000. Mercer Global Advisors Inc. ADV acquired a new stake in Rayonier Advanced Materials in the second quarter worth about $61,000. Truist Financial Corp bought a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at about $66,000. EntryPoint Capital LLC acquired a new position in Rayonier Advanced Materials in the first quarter valued at approximately $100,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in 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 acquiring an additional 26,915 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. StockNews.com upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Thursday, August 8th.

Rayonier Advanced Materials Stock Down 1.7 %

Shares of NYSE:RYAM opened at $7.98 on Friday. The company has a 50 day moving average price of $7.95 and a two-hundred day moving average price of $6.18. The company has a market capitalization of $525.80 million, a PE ratio of -6.76 and a beta of 2.99. Rayonier Advanced Materials Inc. has a 52 week low of $2.66 and a 52 week high of $8.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.69.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.26. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. The business had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. During the same quarter last year, the business posted ($0.25) EPS. Analysts forecast that Rayonier Advanced Materials Inc. will post -0.36 earnings per share 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.