Quest Partners LLC Acquires Shares of 19,347 Rayonier Advanced Materials Inc. (NYSE:RYAM)

Quest Partners LLC bought a new position in Rayonier Advanced Materials Inc. (NYSE:RYAM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 19,347 shares of the basic materials company’s stock, valued at approximately $166,000.

Several other institutional investors have also recently made changes to their positions in RYAM. Empowered Funds LLC increased its stake in Rayonier Advanced Materials by 21.9% in the 3rd quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock valued at $2,907,000 after buying an additional 61,054 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in Rayonier Advanced Materials in the 3rd quarter valued at about $601,000. Assenagon Asset Management S.A. increased its stake in Rayonier Advanced Materials by 226.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock valued at $2,782,000 after buying an additional 225,575 shares during the last quarter. nVerses Capital LLC increased its stake in Rayonier Advanced Materials by 121.9% in the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after buying an additional 3,900 shares during the last quarter. Finally, Creative Planning purchased a new stake in Rayonier Advanced Materials in the 3rd quarter valued at about $220,000. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Stock Down 1.1 %

Rayonier Advanced Materials stock opened at $8.72 on Thursday. Rayonier Advanced Materials Inc. has a 1-year low of $3.02 and a 1-year high of $10.28. The firm has a market capitalization of $574.82 million, a price-to-earnings ratio of -6.81 and a beta of 3.01. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The firm has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $7.05.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $412.20 million. During the same period in the previous year, the business earned ($0.41) EPS. On average, analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RYAM. Royal Bank of Canada raised their price target 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 upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Wednesday.

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.