Rayonier Advanced Materials (NYSE:RYAM) Sets New 1-Year High – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RYAM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday, January 22nd. Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rayonier Advanced Materials presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Rayonier Advanced Materials Trading Up 38.6%

The firm has a 50 day simple moving average of $7.41 and a 200 day simple moving average of $6.72. The firm has a market capitalization of $665.74 million, a PE ratio of -1.59 and a beta of 2.22. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 2.26.

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of institutional investors and hedge funds have recently modified their holdings of RYAM. Nantahala Capital Management LLC lifted its holdings in Rayonier Advanced Materials by 252.6% in the fourth quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock valued at $10,602,000 after acquiring an additional 1,289,490 shares during the period. Millennium Management LLC grew its holdings in Rayonier Advanced Materials by 177.3% during the third quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock valued at $9,817,000 after purchasing an additional 869,486 shares during the period. UBS Group AG raised its stake in shares of Rayonier Advanced Materials by 156.9% in the third quarter. UBS Group AG now owns 783,465 shares of the basic materials company’s stock worth $5,657,000 after buying an additional 478,500 shares during the period. JPMorgan Chase & Co. increased its holdings in Rayonier Advanced Materials by 62.8% in the 4th quarter. JPMorgan Chase & Co. now owns 968,757 shares of the basic materials company’s stock worth $5,706,000 after acquiring an additional 373,522 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Rayonier Advanced Materials by 26.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company’s stock worth $9,942,000 after purchasing an additional 348,589 shares during the period. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Company Profile

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.