Connor Clark & Lunn Investment Management Ltd. Trims Stock Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 39.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 100,654 shares of the basic materials company’s stock after selling 66,827 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Rayonier Advanced Materials were worth $830,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYAM. Quest Partners LLC purchased a new stake in shares of Rayonier Advanced Materials in the third quarter worth approximately $166,000. Intech Investment Management LLC bought a new position in Rayonier Advanced Materials in the third quarter worth approximately $139,000. Massachusetts Financial Services Co. MA bought a new position in Rayonier Advanced Materials in the third quarter worth approximately $2,574,000. Dynamic Technology Lab Private Ltd bought a new position in Rayonier Advanced Materials in the third quarter worth approximately $171,000. Finally, Horizon Kinetics Asset Management LLC grew 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 worth $2,000,000 after purchasing an additional 117,000 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Stock Down 1.2 %

Shares of NYSE RYAM opened at $5.36 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $353.85 million, a PE ratio of -4.19 and a beta of 3.02. The stock’s fifty day simple moving average is $7.10 and its two-hundred day simple moving average is $7.86. Rayonier Advanced Materials Inc. has a 12-month low of $3.72 and a 12-month high of $10.28.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RYAM. Royal Bank of Canada dropped their price objective on 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 cut Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Monday, March 10th.

Rayonier Advanced Materials Company 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.