Insider Buying: Rayonier Advanced Materials Inc. (NYSE:RYAM) Director Acquires 12,500 Shares of Stock

Rayonier Advanced Materials Inc. (NYSE:RYAM) Director Eric Bowen purchased 12,500 shares of Rayonier Advanced Materials stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $8.04 per share, with a total value of $100,500.00. Following the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at $100,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Rayonier Advanced Materials Stock Performance

RYAM stock traded up $0.15 on Monday, hitting $7.98. The company had a trading volume of 227,712 shares, compared to its average volume of 524,985. Rayonier Advanced Materials Inc. has a 12-month low of $3.15 and a 12-month high of $10.28. 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 stock’s 50-day simple moving average is $8.56 and its 200 day simple moving average is $7.34. The stock has a market cap of $526.01 million, a price-to-earnings ratio of -6.08 and a beta of 3.01.

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 the consensus estimate 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 company had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $412.20 million. During the same quarter last year, the company posted ($0.41) earnings per share. As a group, equities research analysts expect that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RYAM shares. Royal Bank of Canada raised 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 report on Thursday, November 7th. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Thursday, December 5th.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in RYAM. Assenagon Asset Management S.A. purchased a new stake in Rayonier Advanced Materials in the second quarter worth approximately $541,000. Bank of New York Mellon Corp boosted its stake in shares of Rayonier Advanced Materials by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 333,677 shares of the basic materials company’s stock worth $1,815,000 after acquiring an additional 24,627 shares during the last quarter. Bailard Inc. purchased a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth $254,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Rayonier Advanced Materials by 4,134.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 27,566 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 26,915 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Rayonier Advanced Materials by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 149,490 shares of the basic materials company’s stock worth $813,000 after acquiring an additional 18,754 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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.