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

Rayonier Advanced Materials (NYSE:RYAMGet Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Rayonier Advanced Materials Price Performance

Shares of NYSE:RYAM traded down $0.90 during midday trading on Wednesday, hitting $3.44. The company’s stock had a trading volume of 1,758,061 shares, compared to its average volume of 545,551. Rayonier Advanced Materials has a 12-month low of $2.66 and a 12-month high of $8.65. The company has a market cap of $224.44 million, a P/E ratio of -5.92 and a beta of 3.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.82 and a current ratio of 1.55. The business’s 50 day simple moving average is $4.28 and its 200 day simple moving average is $3.58.

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Rayonier Advanced Materials by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 101,636 shares of the basic materials company’s stock worth $669,000 after acquiring an additional 3,718 shares during the period. American Century Companies Inc. increased its holdings in shares of Rayonier Advanced Materials by 29.4% during the 1st quarter. American Century Companies Inc. now owns 379,995 shares of the basic materials company’s stock worth $2,497,000 after buying an additional 86,424 shares during the last quarter. Citigroup Inc. raised its position in shares of Rayonier Advanced Materials by 11.7% during the 1st quarter. Citigroup Inc. now owns 53,131 shares of the basic materials company’s stock valued at $349,000 after buying an additional 5,556 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Rayonier Advanced Materials by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,947 shares of the basic materials company’s stock valued at $361,000 after acquiring an additional 6,774 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Rayonier Advanced Materials by 0.3% during the first quarter. BlackRock Inc. now owns 9,971,477 shares of the basic materials company’s stock worth $65,513,000 after acquiring an additional 28,169 shares during the last quarter. Hedge funds and other institutional investors own 79.68% of the company’s stock.

About Rayonier Advanced Materials

(Get Free Report)

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. Its 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.

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