American Century Companies Inc. Raises Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

American Century Companies Inc. boosted its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 20.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,169,320 shares of the basic materials company's stock after acquiring an additional 366,009 shares during the quarter. American Century Companies Inc. owned 3.29% of Rayonier Advanced Materials worth $17,897,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Ieq Capital LLC purchased a new position in shares of Rayonier Advanced Materials in the fourth quarter worth about $83,000. Entropy Technologies LP acquired a new stake in shares of Rayonier Advanced Materials in the fourth quarter valued at approximately $84,000. Summit Global Investments purchased a new position in Rayonier Advanced Materials during the fourth quarter worth approximately $120,000. Aigen Investment Management LP acquired a new position in Rayonier Advanced Materials during the fourth quarter worth $124,000. Finally, Intech Investment Management LLC purchased a new stake in Rayonier Advanced Materials in the 3rd quarter valued at $139,000. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Trading Down 4.5 %

RYAM stock traded down $0.24 during mid-day trading on Friday, hitting $5.00. 684,401 shares of the company were exchanged, compared to its average volume of 513,912. Rayonier Advanced Materials Inc. has a 12-month low of $3.72 and a 12-month high of $10.28. 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 business has a fifty day simple moving average of $6.66 and a 200-day simple moving average of $7.72. The firm has a market capitalization of $329.51 million, a P/E ratio of -3.90 and a beta of 3.01.

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Analysts Set New Price Targets

Several brokerages have recently weighed in on RYAM. StockNews.com raised shares of Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a research report on Thursday. Royal Bank of Canada reduced their target price on shares of Rayonier Advanced Materials from $12.00 to $11.00 and set an "outperform" rating on the stock in a research note 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.