JPMorgan Chase & Co. Increases Stock Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

JPMorgan Chase & Co. boosted its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 157.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 500,891 shares of the basic materials company’s stock after buying an additional 306,640 shares during the period. JPMorgan Chase & Co. owned approximately 0.76% of Rayonier Advanced Materials worth $4,288,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Quarry LP purchased a new position in Rayonier Advanced Materials during the 2nd quarter valued at $29,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Rayonier Advanced Materials during the second quarter worth $61,000. nVerses Capital LLC boosted its stake 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 purchasing an additional 3,900 shares during the period. Truist Financial Corp bought a new position in shares of Rayonier Advanced Materials in the second quarter worth about $66,000. Finally, Intech Investment Management LLC purchased a new position in Rayonier Advanced Materials in the 3rd quarter worth about $139,000. 68.64% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Trading Down 1.2 %

Shares of NYSE:RYAM opened at $7.55 on Friday. The business’s 50-day moving average is $8.27 and its 200 day moving average is $7.69. 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 Inc. has a 1 year low of $3.15 and a 1 year high of $10.28. The firm has a market capitalization of $497.70 million, a P/E ratio of -5.90 and a beta of 3.02.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The company had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same quarter last year, the business posted ($0.41) EPS. On average, research analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RYAM has been the subject of several research analyst reports. Royal Bank of Canada lifted their price target 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 lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Insider Buying and Selling at Rayonier Advanced Materials

In related news, Director Eric Bowen bought 12,500 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $8.04 per share, with a total value of $100,500.00. Following the completion of the purchase, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $100,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 3.26% of the stock is owned by corporate insiders.

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.