Posted by admin on Aug 10th, 2022
SG Americas Securities LLC trimmed its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM – Get Rating) by 43.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,860 shares of the basic materials company’s stock after selling 27,548 shares during the quarter. SG Americas Securities LLC owned 0.06% of Rayonier Advanced Materials worth $236,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Chatham Asset Management LLC purchased a new stake in shares of Rayonier Advanced Materials during the 4th quarter valued at $12,174,000. Assenagon Asset Management S.A. increased its holdings in Rayonier Advanced Materials by 435.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,574,115 shares of the basic materials company’s stock worth $10,342,000 after buying an additional 1,280,403 shares during the last quarter. Invesco Ltd. increased its stake in shares of Rayonier Advanced Materials by 72.4% during the 4th quarter. Invesco Ltd. now owns 2,587,421 shares of the basic materials company’s stock worth $14,775,000 after purchasing an additional 1,086,389 shares during the last quarter. Condire Management LP increased its position in Rayonier Advanced Materials by 6.5% in the fourth quarter. Condire Management LP now owns 3,407,656 shares of the basic materials company’s stock worth $19,458,000 after buying an additional 207,656 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its stake in Rayonier Advanced Materials by 338.1% in the 4th quarter. Wolverine Asset Management LLC now owns 222,938 shares of the basic materials company’s stock valued at $1,272,000 after acquiring an additional 172,046 shares during the period. 76.12% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Royal Bank of Canada raised shares of Rayonier Advanced Materials from a “sector perform” rating to an “outperform” rating and lowered their target price for the company from $6.00 to $5.00 in a report on Monday, July 18th.
Shares of Rayonier Advanced Materials stock opened at $4.93 on Wednesday. The company’s 50-day moving average price is $3.22 and its 200-day moving average price is $4.78. The company has a market cap of $315.38 million, a price-to-earnings ratio of -4.11 and a beta of 3.35. Rayonier Advanced Materials Inc. has a 12-month low of $2.43 and a 12-month high of $8.32. The company has a current ratio of 1.85, a quick ratio of 1.21 and a debt-to-equity ratio of 1.14.
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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