Summit Global Investments Purchases Shares of 14,501 Rayonier Advanced Materials Inc. (NYSE:RYAM)

Summit Global Investments acquired a new position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,501 shares of the basic materials company’s stock, valued at approximately $120,000.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Rayonier Advanced Materials by 157.9% during the third quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company’s stock worth $4,288,000 after acquiring an additional 306,640 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Rayonier Advanced Materials during the 3rd quarter valued at about $2,574,000. BNP Paribas Financial Markets lifted its holdings in Rayonier Advanced Materials by 760.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 183,971 shares of the basic materials company’s stock valued at $1,575,000 after purchasing an additional 162,588 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its stake in Rayonier Advanced Materials by 100.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 233,700 shares of the basic materials company’s stock worth $2,000,000 after buying an additional 117,000 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Rayonier Advanced Materials by 176.2% during the third quarter. Jane Street Group LLC now owns 174,693 shares of the basic materials company’s stock worth $1,495,000 after buying an additional 111,440 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Advanced Materials Trading Up 3.1 %

Shares of NYSE RYAM opened at $5.66 on Wednesday. Rayonier Advanced Materials Inc. has a 1-year low of $3.72 and a 1-year high of $10.28. The company has a 50-day moving average of $7.02 and a two-hundred day moving average of $7.83. The company has a market cap of $373.37 million, a PE ratio of -4.42 and a beta of 3.02. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada reduced their target price on 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 cut 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.