Rayonier Advanced Materials Inc. (NYSE:RYAM) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lessened its position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 7.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 215,700 shares of the basic materials company’s stock after selling 18,000 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Rayonier Advanced Materials were worth $1,780,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in Rayonier Advanced Materials by 21.9% during the third quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock valued at $2,907,000 after buying an additional 61,054 shares during the period. Jane Street Group LLC lifted its holdings in 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 valued at $1,495,000 after purchasing an additional 111,440 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 valued at $4,288,000 after purchasing an additional 306,640 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Rayonier Advanced Materials by 33.5% during the fourth quarter. SG Americas Securities LLC now owns 45,367 shares of the basic materials company’s stock valued at $374,000 after purchasing an additional 11,384 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Rayonier Advanced Materials by 760.4% during the third 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 in the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

Rayonier Advanced Materials Price Performance

Shares of RYAM stock opened at $5.47 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The firm’s 50-day moving average is $7.29 and its two-hundred day moving average is $7.93. Rayonier Advanced Materials Inc. has a 12 month low of $3.72 and a 12 month high of $10.28. The company has a market capitalization of $360.51 million, a PE ratio of -4.27 and a beta of 3.02.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Royal Bank of Canada decreased their price target on shares of Rayonier Advanced Materials from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th.

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.