Axxcess Wealth Management LLC Buys 27,316 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Axxcess Wealth Management LLC increased its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 25.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,035 shares of the basic materials company’s stock after purchasing an additional 27,316 shares during the period. Axxcess Wealth Management LLC owned approximately 0.21% of Rayonier Advanced Materials worth $740,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in Rayonier Advanced Materials by 471.8% during the 1st quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock valued at $9,548,000 after purchasing an additional 1,648,101 shares during the last quarter. CastleKnight Management LP raised its position in Rayonier Advanced Materials by 1,036.0% in the 4th quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock worth $7,950,000 after buying an additional 1,790,257 shares during the last quarter. Boston Partners lifted its stake in Rayonier Advanced Materials by 1,923.5% during the 1st quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after acquiring an additional 2,054,715 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Rayonier Advanced Materials by 30.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock valued at $3,429,000 after acquiring an additional 168,222 shares during the last quarter. Finally, Bailard Inc. bought a new stake in shares of Rayonier Advanced Materials in the second quarter worth approximately $254,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Trading Up 6.5 %

Shares of NYSE:RYAM opened at $8.31 on Friday. The stock’s 50-day simple moving average is $6.99 and its two-hundred day simple moving average is $5.56. The stock has a market capitalization of $547.55 million, a price-to-earnings ratio of -5.16 and a beta of 3.00. Rayonier Advanced Materials Inc. has a 52-week low of $2.66 and a 52-week high of $8.34. 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 posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. The company 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 firm posted ($0.25) earnings per share. Analysts expect that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted 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.

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.