Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Up – Here’s What Happened

Rayonier Advanced Materials Inc. (NYSE:RYAM) gapped up prior to trading on Tuesday . The stock had previously closed at $7.70, but opened at $8.28. Rayonier Advanced Materials shares last traded at $8.08, with a volume of 103,481 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RYAM. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada boosted their price target on Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Rayonier Advanced Materials Stock Performance

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 company’s 50-day simple moving average is $7.98 and its 200-day simple moving average is $7.93.

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, 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 company had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $412.20 million. During the same period in the prior year, the firm earned ($0.41) EPS. Equities research analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Insiders Place Their Bets

In other Rayonier Advanced Materials news, Director Eric Bowen purchased 12,500 shares of the business’s stock in a transaction on 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 acquisition, the director now directly owns 12,500 shares of the company’s stock, valued at $100,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Rayonier Advanced Materials

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Rayonier Advanced Materials by 157.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company’s stock worth $4,288,000 after buying an additional 306,640 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Rayonier Advanced Materials during the third quarter worth approximately $2,574,000. Assenagon Asset Management S.A. boosted its holdings in shares of Rayonier Advanced Materials by 226.8% during the third quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock worth $2,782,000 after acquiring an additional 225,575 shares during the period. BNP Paribas Financial Markets grew its position in shares of Rayonier Advanced Materials by 760.4% in the third quarter. BNP Paribas Financial Markets now owns 183,971 shares of the basic materials company’s stock valued at $1,575,000 after purchasing an additional 162,588 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its stake in shares of Rayonier Advanced Materials by 100.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 233,700 shares of the basic materials company’s stock worth $2,000,000 after purchasing an additional 117,000 shares during the period. 68.64% of the stock is owned by institutional investors.

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.