Victory Capital Management Inc. grew its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 36.3% during the second quarter, Holdings Channel reports. The firm owned 21,748 shares of the basic materials company’s stock after acquiring an additional 5,793 shares during the quarter. Victory Capital Management Inc.’s holdings in Rayonier Advanced Materials were worth $145,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in RYAM. BNP Paribas Arbitrage SA lifted its stake in shares of Rayonier Advanced Materials by 35.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 33,661 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 8,865 shares during the period. BlackRock Inc. raised its stake in Rayonier Advanced Materials by 7.1% during the 1st quarter. BlackRock Inc. now owns 10,082,038 shares of the basic materials company’s stock worth $91,444,000 after buying an additional 667,605 shares during the period. GSA Capital Partners LLP acquired a new position in Rayonier Advanced Materials during the 1st quarter worth approximately $158,000. State of Tennessee Treasury Department raised its stake in Rayonier Advanced Materials by 16.8% during the 1st quarter. State of Tennessee Treasury Department now owns 22,584 shares of the basic materials company’s stock worth $205,000 after buying an additional 3,242 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Rayonier Advanced Materials during the 1st quarter worth approximately $1,890,000. 72.87% of the stock is currently owned by institutional investors.
Shares of RYAM opened at $6.96 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.29 and a current ratio of 2.87. The stock has a 50 day moving average price of $6.81 and a two-hundred day moving average price of $7.83. The firm has a market capitalization of $443.61 million, a P/E ratio of 3.40, a P/E/G ratio of 2.21 and a beta of 3.74. Rayonier Advanced Materials Inc. has a 52 week low of $3.00 and a 52 week high of $11.30.
RYAM has been the topic of a number of research reports. Zacks Investment Research downgraded Rayonier Advanced Materials from a “hold” rating to a “sell” rating in a research note on Thursday, August 26th. Royal Bank of Canada raised Rayonier Advanced Materials from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $9.00 to $10.00 in a research note on Thursday, August 5th.
Rayonier Advanced Materials Profile
Rayonier Advanced Materials, Inc engages in the production and sale of cellulose products, which is a natural polymer commonly used in the production of cell phone and computer screens, filters, and pharmaceuticals. It operates through the following segments: High Purity Cellulose, Forest Products, Paperboard, Pulp and Newsprint, and Corporate.
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