Walleye Capital LLC Acquires New Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Walleye Capital LLC purchased a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 13,653 shares of the basic materials company’s stock, valued at approximately $113,000.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Rayonier Advanced Materials by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,735,408 shares of the basic materials company’s stock worth $30,817,000 after purchasing an additional 26,402 shares during the period. American Century Companies Inc. raised its stake in shares of Rayonier Advanced Materials by 20.3% in the 4th quarter. American Century Companies Inc. now owns 2,169,320 shares of the basic materials company’s stock valued at $17,897,000 after acquiring an additional 366,009 shares during the period. Renaissance Technologies LLC raised its stake in shares of Rayonier Advanced Materials by 29.8% in the 4th quarter. Renaissance Technologies LLC now owns 2,021,444 shares of the basic materials company’s stock valued at $16,677,000 after acquiring an additional 464,630 shares during the period. Geode Capital Management LLC raised its stake in shares of Rayonier Advanced Materials by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,492,578 shares of the basic materials company’s stock valued at $12,779,000 after acquiring an additional 26,032 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Rayonier Advanced Materials by 2.9% in the 4th quarter. Federated Hermes Inc. now owns 1,140,573 shares of the basic materials company’s stock valued at $9,410,000 after acquiring an additional 32,227 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RYAM. Royal Bank of Canada cut their target price on shares of Rayonier Advanced Materials from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Friday, April 11th.

Rayonier Advanced Materials Price Performance

RYAM opened at $4.36 on Monday. The company has a fifty day simple moving average of $5.64 and a 200 day simple moving average of $7.25. The firm has a market cap of $290.70 million, a price-to-earnings ratio of -3.40 and a beta of 2.86. Rayonier Advanced Materials Inc. has a twelve month low of $3.72 and a twelve month high of $10.28. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02.

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.