Posted by admin on Aug 11th, 2022
KBC Group NV grew its position in Rayonier Advanced Materials Inc. (NYSE:RYAM – Get Rating) by 20.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,485 shares of the basic materials company’s stock after acquiring an additional 3,983 shares during the period. KBC Group NV’s holdings in Rayonier Advanced Materials were worth $154,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of RYAM. Chatham Asset Management LLC acquired a new position in shares of Rayonier Advanced Materials in the fourth quarter worth about $12,174,000. Assenagon Asset Management S.A. raised its position in shares of Rayonier Advanced Materials by 435.9% in 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 acquiring an additional 1,280,403 shares during the period. Invesco Ltd. raised its position in shares of Rayonier Advanced Materials by 72.4% in the fourth quarter. Invesco Ltd. now owns 2,587,421 shares of the basic materials company’s stock worth $14,775,000 after acquiring an additional 1,086,389 shares during the period. Condire Management LP raised its position in shares of Rayonier Advanced Materials by 6.5% during the 4th quarter. Condire Management LP now owns 3,407,656 shares of the basic materials company’s stock worth $19,458,000 after purchasing an additional 207,656 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its position in shares of Rayonier Advanced Materials by 338.1% during the 4th quarter. Wolverine Asset Management LLC now owns 222,938 shares of the basic materials company’s stock worth $1,272,000 after purchasing an additional 172,046 shares during the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.
Several equities research analysts have commented on RYAM shares. Royal Bank of Canada upgraded Rayonier Advanced Materials from a “sector perform” rating to an “outperform” rating and cut their price objective for the stock from $6.00 to $5.00 in a research note on Monday, July 18th. StockNews.com upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Friday, August 5th.
Shares of Rayonier Advanced Materials stock opened at $5.03 on Thursday. Rayonier Advanced Materials Inc. has a one year low of $2.43 and a one year high of $8.32. The company has a market cap of $321.77 million, a price-to-earnings ratio of -4.19 and a beta of 3.35. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.21 and a current ratio of 1.85. The business’s 50 day moving average price is $3.24 and its 200 day moving average price is $4.78.
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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