Jane Street Group LLC Acquires 111,440 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Jane Street Group LLC lifted its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 176.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,693 shares of the basic materials company’s stock after purchasing an additional 111,440 shares during the quarter. Jane Street Group LLC owned about 0.27% of Rayonier Advanced Materials worth $1,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RYAM. Quarry LP purchased a new position in Rayonier Advanced Materials during the second quarter valued at $29,000. nVerses Capital LLC increased 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 in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Rayonier Advanced Materials in the 2nd quarter worth about $61,000. Truist Financial Corp bought a new position in Rayonier Advanced Materials in the 2nd quarter worth about $66,000. Finally, Intech Investment Management LLC purchased a new stake in Rayonier Advanced Materials during the 3rd quarter valued at about $139,000. 68.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Rayonier Advanced Materials Trading Down 2.2 %

Rayonier Advanced Materials stock opened at $7.57 on Friday. Rayonier Advanced Materials Inc. has a one year low of $3.15 and a one year high of $10.28. The business’s fifty day moving average is $8.38 and its 200 day moving average is $7.46. The stock has a market capitalization of $498.98 million, a PE ratio of -5.91 and a beta of 3.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $412.20 million. During the same quarter in the prior year, the business earned ($0.41) EPS. On average, sell-side analysts predict that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Eric Bowen acquired 12,500 shares of Rayonier Advanced Materials stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $8.04 per share, for a total transaction of $100,500.00. Following the completion of the transaction, the director now owns 12,500 shares in the company, valued at $100,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.14% of the stock is currently owned by corporate insiders.

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.