Summit Global Investments Takes $120,000 Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Summit Global Investments acquired a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,501 shares of the basic materials company’s stock, valued at approximately $120,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC increased its stake in Rayonier Advanced Materials by 100.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 233,700 shares of the basic materials company’s stock valued at $2,000,000 after purchasing an additional 117,000 shares in the last quarter. Jane Street Group LLC increased its position in shares of Rayonier Advanced Materials by 176.2% in the 3rd quarter. Jane Street Group LLC now owns 174,693 shares of the basic materials company’s stock valued at $1,495,000 after buying an additional 111,440 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Rayonier Advanced Materials by 157.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company’s stock valued at $4,288,000 after buying an additional 306,640 shares in the last quarter. SG Americas Securities LLC raised its stake in Rayonier Advanced Materials by 33.5% during the 4th quarter. SG Americas Securities LLC now owns 45,367 shares of the basic materials company’s stock worth $374,000 after buying an additional 11,384 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Rayonier Advanced Materials by 760.4% during the third quarter. BNP Paribas Financial Markets now owns 183,971 shares of the basic materials company’s stock worth $1,575,000 after acquiring an additional 162,588 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Analysts Set New Price Targets

RYAM has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on Rayonier Advanced Materials from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Monday, March 10th.

Rayonier Advanced Materials Stock Up 3.1 %

RYAM stock opened at $5.66 on Wednesday. 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 stock has a market capitalization of $373.37 million, a P/E ratio of -4.42 and a beta of 3.02. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $10.28. The business has a 50-day moving average of $7.02 and a 200-day moving average of $7.83.

Rayonier Advanced Materials Profile

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.