Royal Bank of Canada Cuts Rayonier Advanced Materials (NYSE:RYAM) Price Target to $11.00

Rayonier Advanced Materials (NYSE:RYAM) had its price objective trimmed by Royal Bank of Canada from $12.00 to $11.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

Separately, StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd.

Rayonier Advanced Materials Price Performance

Shares of NYSE:RYAM opened at $6.00 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. Rayonier Advanced Materials has a fifty-two week low of $3.71 and a fifty-two week high of $10.28. The firm has a 50-day simple moving average of $7.62 and a 200 day simple moving average of $8.02. The company has a market cap of $395.17 million, a PE ratio of -4.68 and a beta of 3.02.

Insider Activity at Rayonier Advanced Materials

In related news, Director Eric Bowen bought 12,500 shares of the business’s stock in a transaction on Friday, December 13th. The stock was bought at an average price of $8.04 per share, for a total transaction of $100,500.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at $100,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Rayonier Advanced Materials by 127.0% in the 4th quarter. Millennium Management LLC now owns 846,678 shares of the basic materials company’s stock worth $6,985,000 after acquiring an additional 473,723 shares during the period. Renaissance Technologies LLC raised its holdings in 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 worth $16,677,000 after acquiring an additional 464,630 shares during the period. American Century Companies Inc. increased its holdings in shares of Rayonier Advanced Materials by 20.3% during the 4th quarter. American Century Companies Inc. now owns 2,169,320 shares of the basic materials company’s stock worth $17,897,000 after purchasing an additional 366,009 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Rayonier Advanced Materials by 66.8% during the 4th quarter. JPMorgan Chase & Co. now owns 835,388 shares of the basic materials company’s stock worth $6,892,000 after purchasing an additional 334,497 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Rayonier Advanced Materials during the 3rd quarter worth about $2,574,000. Institutional investors own 68.64% of the company’s stock.

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.