Rayonier Advanced Materials (NYSE:RYAM) Rating Increased to Buy at StockNews.com

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

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

Rayonier Advanced Materials Price Performance

NYSE:RYAM traded down $0.51 during trading hours on Thursday, reaching $5.23. 551,166 shares of the company were exchanged, compared to its average volume of 512,622. The business has a 50 day moving average of $6.72 and a 200 day moving average of $7.74. Rayonier Advanced Materials has a 1-year low of $3.72 and a 1-year high of $10.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The company has a market capitalization of $344.68 million, a P/E ratio of -4.08 and a beta of 3.01.

Institutional Trading of Rayonier Advanced Materials

A number of hedge funds have recently added to or reduced their stakes in RYAM. Public Employees Retirement System of Ohio increased its holdings in shares of Rayonier Advanced Materials by 1.8% during the third quarter. Public Employees Retirement System of Ohio now owns 63,054 shares of the basic materials company’s stock worth $540,000 after buying an additional 1,139 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Rayonier Advanced Materials by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,631 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 1,596 shares in the last quarter. Savant Capital LLC raised its position in Rayonier Advanced Materials by 7.9% in the fourth quarter. Savant Capital LLC now owns 31,821 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 2,322 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Rayonier Advanced Materials by 15.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,135 shares of the basic materials company’s stock valued at $200,000 after purchasing an additional 3,305 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Rayonier Advanced Materials by 36.6% during the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 3,852 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

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.