Geode Capital Management LLC Has $12.78 Million Stock Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Geode Capital Management LLC lifted its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,492,578 shares of the basic materials company’s stock after buying an additional 26,032 shares during the quarter. Geode Capital Management LLC owned about 2.26% of Rayonier Advanced Materials worth $12,779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Rayonier Advanced Materials by 1.8% in the third quarter. Public Employees Retirement System of Ohio now owns 63,054 shares of the basic materials company’s stock worth $540,000 after buying an additional 1,139 shares during the last quarter. nVerses Capital LLC raised its stake in Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 3,900 shares during the last quarter. Quarry LP acquired a new position in Rayonier Advanced Materials during the 2nd quarter valued at $29,000. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials during the 2nd quarter valued at $61,000. Finally, Truist Financial Corp acquired a new position in Rayonier Advanced Materials during the 2nd quarter valued at $66,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Advanced Materials Price Performance

NYSE:RYAM opened at $8.08 on Tuesday. The stock has a market cap of $532.60 million, a P/E ratio of -6.31 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. The company has a fifty day moving average price of $8.40 and a 200 day moving average price of $7.50. Rayonier Advanced Materials Inc. has a one year low of $3.15 and a one year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly 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. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same quarter in the previous year, the firm posted ($0.41) EPS. Analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, Director Eric Bowen purchased 12,500 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $8.04 per share, with a total value of $100,500.00. Following the acquisition, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented 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 company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

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.