Victory Capital Management Inc. Purchases Shares of 28,883 Rayonier Advanced Materials Inc. (NYSE:RYAM)

Victory Capital Management Inc. purchased a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 28,883 shares of the basic materials company’s stock, valued at approximately $238,000.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 26,032 shares during the last quarter. State Street Corp boosted its holdings in shares of Rayonier Advanced Materials by 1.1% in the 3rd quarter. State Street Corp now owns 1,440,085 shares of the basic materials company’s stock valued at $12,327,000 after purchasing an additional 16,139 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 306,640 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Rayonier Advanced Materials by 5.1% in the 4th quarter. Empowered Funds LLC now owns 356,960 shares of the basic materials company’s stock valued at $2,945,000 after purchasing an additional 17,368 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Rayonier Advanced Materials in the 3rd quarter valued at $2,574,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Rayonier Advanced Materials Stock Performance

Rayonier Advanced Materials stock opened at $5.36 on Friday. The firm’s fifty day moving average price is $7.10 and its 200 day moving average price is $7.86. The company has a market capitalization of $353.85 million, a price-to-earnings ratio of -4.19 and a beta of 3.02. Rayonier Advanced Materials Inc. has a 12-month low of $3.72 and a 12-month high of $10.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09.

Analyst Ratings Changes

Several research firms recently weighed in on RYAM. Royal Bank of Canada reduced 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 report on Friday, March 7th. StockNews.com lowered shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Monday, March 10th.

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.