Massachusetts Financial Services Co. MA Acquires Shares of 300,728 Rayonier Advanced Materials Inc. (NYSE:RYAM)

Massachusetts Financial Services Co. MA bought a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 300,728 shares of the basic materials company’s stock, valued at approximately $2,574,000. Massachusetts Financial Services Co. MA owned about 0.46% of Rayonier Advanced Materials at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Boston Partners raised its stake in shares of Rayonier Advanced Materials by 1,923.5% in the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after acquiring an additional 2,054,715 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Rayonier Advanced Materials by 30.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock valued at $3,429,000 after acquiring an additional 168,222 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Rayonier Advanced Materials by 21.9% in the third quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock valued at $2,907,000 after acquiring an additional 61,054 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Rayonier Advanced Materials in the second quarter valued at approximately $632,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Rayonier Advanced Materials by 226.8% in the third quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock valued at $2,782,000 after acquiring an additional 225,575 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company 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 report on Friday, November 15th.

Rayonier Advanced Materials Stock Performance

RYAM stock opened at $8.82 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The company has a 50 day moving average price of $8.56 and a 200 day moving average price of $7.04. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $10.28. The stock has a market capitalization of $581.38 million, a PE ratio of -6.89 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share 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 firm had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. During the same quarter in the previous year, the company posted ($0.41) EPS. Analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Rayonier Advanced Materials 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.