78,773 Shares of Rayonier Advanced Materials Inc. $RYAM Bought by Inspire Investing LLC

Inspire Investing LLC bought a new stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 78,773 shares of the basic materials company’s stock, valued at approximately $628,000.

A number of other hedge funds have also made changes to their positions in RYAM. BlackRock Inc. acquired a new stake in Rayonier Advanced Materials during the 2nd quarter worth $37,437,000. Aip LLC purchased a new position in Rayonier Advanced Materials during the second quarter worth approximately $26,724,000. Irenic Capital Management LP acquired a new position in Rayonier Advanced Materials during the first quarter worth $15,013,000. Nantahala Capital Management LLC purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $13,344,126. Finally, Empowered Funds LLC purchased a new position in Rayonier Advanced Materials during the second quarter worth about $3,138,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Rayonier Advanced Materials Price Performance

Shares of RYAM opened at $6.60 on Friday. Rayonier Advanced Materials Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $11.85. The firm’s 50 day moving average price is $7.79 and its 200 day moving average price is $8.66. The company has a market cap of $446.42 million, a P/E ratio of -3.14 and a beta of 1.84. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 3.83.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%. The business had revenue of $376.14 million for the quarter, compared to analyst estimates of $362.00 million. On average, research analysts forecast that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RYAM. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Royal Bank Of Canada cut their price objective on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.00.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc (NYSE: RYAM) is a specialty materials company that manufactures cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, and other engineered materials used in products such as acetate tow for cigarette filters, pharmaceutical and food-grade excipients, coatings, films, plastics, and other specialty applications.

The company also produces performance fibers and related cellulose products for markets including textiles, nonwovens, and industrial materials.