UBS Group AG reduced its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM – Free Report) by 52.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 372,884 shares of the basic materials company’s stock after selling 410,581 shares during the quarter. UBS Group AG owned approximately 0.56% of Rayonier Advanced Materials worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in RYAM. Millennium Management LLC increased its holdings in Rayonier Advanced Materials by 177.3% during the 3rd quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock valued at $9,817,000 after acquiring an additional 869,486 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Rayonier Advanced Materials during the 3rd quarter valued at about $3,686,000. Hudson Bay Capital Management LP purchased a new position in Rayonier Advanced Materials during the 3rd quarter valued at about $1,267,000. American Century Companies Inc. increased its holdings in Rayonier Advanced Materials by 6.1% during the 3rd quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company’s stock valued at $19,646,000 after acquiring an additional 155,268 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Rayonier Advanced Materials by 923.8% during the 2nd quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock valued at $535,000 after acquiring an additional 125,336 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.
Rayonier Advanced Materials Price Performance
RYAM opened at $9.11 on Thursday. The company’s 50 day simple moving average is $9.80 and its 200 day simple moving average is $8.30. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37. Rayonier Advanced Materials Inc. has a 1 year low of $3.35 and a 1 year high of $11.85. The stock has a market capitalization of $614.51 million, a PE ratio of -1.29 and a beta of 1.79.
Analyst Upgrades and Downgrades
Several research firms have weighed in on RYAM. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Royal Bank Of Canada raised their price target on shares of Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rayonier Advanced Materials presently has a consensus rating of “Hold” and a consensus target price of $14.00.
View Our Latest Stock Analysis on RYAM
Rayonier Advanced Materials Company Profile
Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.
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