Rayonier Advanced Materials (NYSE:RYAM) Cut to Hold at StockNews.com

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

Separately, Royal Bank of Canada lowered their price target on shares of Rayonier Advanced Materials from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Friday, March 7th.

Rayonier Advanced Materials Stock Down 2.8 %

Shares of RYAM traded down $0.13 during trading hours on Friday, reaching $4.56. The company's stock had a trading volume of 7,964 shares, compared to its average volume of 491,811. 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 $304.32 million, a price-to-earnings ratio of -3.56 and a beta of 2.86. The company has a 50 day moving average of $6.10 and a two-hundred day moving average of $7.50. Rayonier Advanced Materials has a 1-year low of $3.71 and a 1-year high of $10.28.

Institutional Trading of Rayonier Advanced Materials

Several large investors have recently added to or reduced their stakes in RYAM. Assenagon Asset Management S.A. boosted its holdings in Rayonier Advanced Materials by 13.2% in the first quarter. Assenagon Asset Management S.A. now owns 259,475 shares of the basic materials company's stock worth $1,492,000 after purchasing an additional 30,282 shares in the last quarter. Whitaker Myers Wealth Managers LTD. bought a new stake in Rayonier Advanced Materials in the 1st quarter valued at $176,000. PharVision Advisers LLC acquired a new position in shares of Rayonier Advanced Materials in the 4th quarter valued at $227,000. Squarepoint Ops LLC boosted its position in shares of Rayonier Advanced Materials by 62.5% during the 4th quarter. Squarepoint Ops LLC now owns 90,426 shares of the basic materials company's stock valued at $746,000 after acquiring an additional 34,777 shares in the last quarter. Finally, State of Wyoming increased its stake in Rayonier Advanced Materials by 89.8% in the fourth quarter. State of Wyoming now owns 75,327 shares of the basic materials company's stock valued at $621,000 after acquiring an additional 35,645 shares during the period. 68.64% of the stock is owned by institutional investors.

Remove Ads

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.