Rayonier Advanced Materials (NYSE:RYAM) Downgraded by StockNews.com to “Hold”

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Separately, Royal Bank of Canada cut their price objective on shares of Rayonier Advanced Materials from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 7th.

Rayonier Advanced Materials Stock Down 1.6 %

RYAM stock opened at $4.68 on Friday. The company has a market capitalization of $312.60 million, a P/E ratio of -3.66 and a beta of 2.86. Rayonier Advanced Materials has a 12 month low of $3.72 and a 12 month high of $10.28. The firm’s fifty day simple moving average is $6.21 and its 200-day simple moving average is $7.56. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ieq Capital LLC acquired a new stake in Rayonier Advanced Materials during the fourth quarter worth $83,000. Entropy Technologies LP purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth $84,000. Townsquare Capital LLC purchased a new stake in Rayonier Advanced Materials in the 4th quarter valued at about $85,000. Walleye Capital LLC purchased a new stake in Rayonier Advanced Materials in the 4th quarter valued at about $113,000. Finally, Hsbc Holdings PLC lifted its position in Rayonier Advanced Materials by 36.6% in the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock valued at $117,000 after buying an additional 3,852 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

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.