Empowered Funds LLC Raises Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Empowered Funds LLC increased its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 5.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 356,960 shares of the basic materials company’s stock after acquiring an additional 17,368 shares during the period. Empowered Funds LLC owned approximately 0.54% of Rayonier Advanced Materials worth $2,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RYAM. nVerses Capital LLC raised 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 acquired a new position in Rayonier Advanced Materials in the 2nd quarter worth $66,000. Intech Investment Management LLC purchased a new position in Rayonier Advanced Materials in the 3rd quarter valued at about $139,000. Quest Partners LLC purchased a new position in Rayonier Advanced Materials in the 3rd quarter valued at about $166,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rayonier Advanced Materials during the third quarter valued at about $171,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Price Performance

Shares of RYAM stock opened at $7.28 on Friday. The firm has a market cap of $479.57 million, a P/E ratio of -5.68 and a beta of 2.99. The firm has a fifty day moving average of $7.81 and a two-hundred day moving average of $7.96. 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.

Insider Buying and Selling

In other Rayonier Advanced Materials news, Director Eric Bowen acquired 12,500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $8.04 per share, with a total value of $100,500.00. Following the completion of the acquisition, the director now directly owns 12,500 shares in the company, valued at $100,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their target price on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Rayonier Advanced Materials Company 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.