nVerses Capital LLC Raises Stock Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

nVerses Capital LLC lifted its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 121.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,100 shares of the basic materials company’s stock after acquiring an additional 3,900 shares during the period. nVerses Capital LLC’s holdings in Rayonier Advanced Materials were worth $61,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Rayonier Advanced Materials during the 2nd quarter worth about $29,000. Mercer Global Advisors Inc. ADV acquired a new stake in Rayonier Advanced Materials during the second quarter worth approximately $61,000. Truist Financial Corp purchased a new stake in Rayonier Advanced Materials in the 2nd quarter worth approximately $66,000. EntryPoint Capital LLC acquired a new position in Rayonier Advanced Materials in the 1st quarter valued at $100,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Rayonier Advanced Materials by 4,134.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 27,566 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 26,915 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rayonier Advanced Materials Stock Down 8.0 %

Shares of NYSE RYAM opened at $7.34 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09. The firm has a fifty day moving average of $7.96 and a 200-day moving average of $6.22. Rayonier Advanced Materials Inc. has a 52-week low of $2.66 and a 52-week high of $8.97.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. During the same period last year, the business posted ($0.25) EPS. On average, sell-side analysts predict that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current year.

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.