Rayonier Advanced Materials (NYSE:RYAM) Sets New 12-Month High – Here’s Why

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $10.05 and last traded at $9.9320, with a volume of 2272189 shares traded. The stock had previously closed at $7.17.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RYAM. Zacks Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rayonier Advanced Materials currently has an average rating of “Hold” and a consensus target price of $6.00.

Rayonier Advanced Materials Price Performance

The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.89 and a current ratio of 1.57. The stock has a 50 day moving average of $7.58 and a 200-day moving average of $6.77. The company has a market cap of $627.98 million, a PE ratio of -1.51 and a beta of 2.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tactive Advisors LLC increased its stake in shares of Rayonier Advanced Materials by 18.0% in the 4th quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 2,032 shares in the last quarter. Deutsche Bank AG increased its position in shares of Rayonier Advanced Materials by 1.5% in the fourth quarter. Deutsche Bank AG now owns 151,944 shares of the basic materials company’s stock valued at $895,000 after buying an additional 2,292 shares in the last quarter. Covestor Ltd raised its stake in shares of Rayonier Advanced Materials by 46.7% during the 3rd quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock worth $82,000 after buying an additional 3,636 shares during the period. Barclays PLC lifted its position in shares of Rayonier Advanced Materials by 4.5% during the 4th quarter. Barclays PLC now owns 100,484 shares of the basic materials company’s stock valued at $592,000 after buying an additional 4,348 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in Rayonier Advanced Materials by 19.1% during the 4th quarter. Intech Investment Management LLC now owns 27,725 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 4,438 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.