PDT Partners LLC Invests $397,000 in Rayonier Advanced Materials Inc. (NYSE:RYAM)

PDT Partners LLC bought a new stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the 4th quarter, Holdings Channel reports. The fund bought 48,146 shares of the basic materials company’s stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ieq Capital LLC purchased a new position in Rayonier Advanced Materials during the 4th quarter valued at $83,000. Entropy Technologies LP bought a new stake in shares of Rayonier Advanced Materials during the 4th quarter valued at about $84,000. Townsquare Capital LLC purchased a new position in shares of Rayonier Advanced Materials during the fourth quarter valued at about $85,000. Walleye Capital LLC purchased a new position in shares of Rayonier Advanced Materials during the fourth quarter valued at about $113,000. Finally, Hsbc Holdings PLC raised its stake in Rayonier Advanced Materials by 36.6% in the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock worth $117,000 after buying an additional 3,852 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Trading Up 1.2 %

Shares of NYSE RYAM opened at $4.31 on Friday. The stock has a market cap of $287.70 million, a P/E ratio of -3.37 and a beta of 2.86. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. Rayonier Advanced Materials Inc. has a 1 year low of $3.83 and a 1 year high of $10.28. The firm has a 50-day moving average of $5.40 and a 200 day moving average of $7.15.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RYAM shares. StockNews.com downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Royal Bank of Canada reduced their price target on 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.