Connor Clark & Lunn Investment Management Ltd. Has $830,000 Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 39.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,654 shares of the basic materials company's stock after selling 66,827 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Rayonier Advanced Materials worth $830,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Rayonier Advanced Materials by 157.9% in the third quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company's stock valued at $4,288,000 after buying an additional 306,640 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Rayonier Advanced Materials in the 3rd quarter valued at about $2,574,000. BNP Paribas Financial Markets increased its stake in shares of Rayonier Advanced Materials by 760.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 183,971 shares of the basic materials company's stock worth $1,575,000 after purchasing an additional 162,588 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its stake in shares of Rayonier Advanced Materials by 100.3% during the 3rd 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 last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Rayonier Advanced Materials by 176.2% in the 3rd quarter. Jane Street Group LLC now owns 174,693 shares of the basic materials company's stock valued at $1,495,000 after purchasing an additional 111,440 shares during the period. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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Rayonier Advanced Materials Stock Performance

Shares of RYAM traded up $0.17 during trading hours on Tuesday, hitting $5.66. The company had a trading volume of 666,145 shares, compared to its average volume of 492,015. The business has a fifty day moving average of $7.05 and a 200-day moving average of $7.85. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. The firm has a market cap of $373.37 million, a price-to-earnings ratio of -4.42 and a beta of 3.02. Rayonier Advanced Materials Inc. has a 12 month low of $3.72 and a 12 month high of $10.28.

Wall Street Analyst Weigh In

A number of research firms recently commented on RYAM. StockNews.com cut Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Royal Bank of Canada decreased their target price on Rayonier Advanced Materials from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Friday, March 7th.

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.