Russell Investments Group Ltd. Sells 432,749 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Russell Investments Group Ltd. trimmed its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 36.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 746,164 shares of the basic materials company’s stock after selling 432,749 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.13% of Rayonier Advanced Materials worth $6,156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RYAM. Ieq Capital LLC acquired a new position in shares of Rayonier Advanced Materials during the fourth quarter worth $83,000. Entropy Technologies LP bought a new stake in Rayonier Advanced Materials during the 4th quarter worth $84,000. Summit Global Investments bought a new stake in Rayonier Advanced Materials during the 4th quarter worth $120,000. Aigen Investment Management LP acquired a new position in Rayonier Advanced Materials in the 4th quarter worth about $124,000. Finally, EntryPoint Capital LLC bought a new position in Rayonier Advanced Materials in the fourth quarter valued at about $144,000. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Stock Performance

NYSE RYAM opened at $4.68 on Monday. The company has a market capitalization of $312.60 million, a price-to-earnings ratio of -3.66 and a beta of 2.86. Rayonier Advanced Materials Inc. has a twelve month low of $3.72 and a twelve month high of $10.28. The stock has a fifty day simple moving average of $6.21 and a 200 day simple moving average of $7.55. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

Analysts Set New Price Targets

Several research firms have recently weighed in on RYAM. Royal Bank of Canada reduced their price target 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 lowered shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Friday.

Rayonier Advanced Materials Profile

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.