Rayonier Advanced Materials (NYSE:RYAM) Sets New 12-Month High at $7.93

Rayonier Advanced Materials Inc. (NYSE:RYAMGet Rating) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $7.93 and last traded at $7.88, with a volume of 15881 shares trading hands. The stock had previously closed at $7.68.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RYAM shares. Bank of America reduced their target price on shares of Rayonier Advanced Materials from $2.60 to $1.90 in a research note on Thursday, October 13th. Royal Bank of Canada boosted their price objective on shares of Rayonier Advanced Materials from $6.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd. Finally, StockNews.com began coverage on shares of Rayonier Advanced Materials in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Rayonier Advanced Materials Trading Down 0.4 %

The stock has a market capitalization of $489.37 million, a price-to-earnings ratio of -11.25 and a beta of 3.28. The company’s 50 day moving average is $4.63 and its 200 day moving average is $4.16. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 2.02.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wolverine Asset Management LLC grew its holdings in shares of Rayonier Advanced Materials by 55.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 345,841 shares of the basic materials company’s stock worth $906,000 after purchasing an additional 122,903 shares during the last quarter. Clear Harbor Asset Management LLC bought a new stake in Rayonier Advanced Materials during the 1st quarter worth about $180,000. Game Plan Financial Advisors LLC grew its holdings in Rayonier Advanced Materials by 4.2% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 125,000 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 5,000 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in Rayonier Advanced Materials by 53.7% during the 1st quarter. State of Tennessee Treasury Department now owns 58,001 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 20,258 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Rayonier Advanced Materials during the 2nd quarter valued at about $326,000. Institutional investors own 84.73% of the company’s stock.

Rayonier Advanced Materials Company Profile

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Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. Its 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.

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