Pictet Asset Management SA Sells 700,838 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Pictet Asset Management SA lowered its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAMGet Rating) by 64.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 395,037 shares of the basic materials company’s stock after selling 700,838 shares during the quarter. Pictet Asset Management SA’s holdings in Rayonier Advanced Materials were worth $1,035,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. DDD Partners LLC boosted its holdings in Rayonier Advanced Materials by 47.0% during the 2nd quarter. DDD Partners LLC now owns 3,276,147 shares of the basic materials company’s stock worth $8,584,000 after acquiring an additional 1,047,441 shares during the last quarter. Invesco Ltd. boosted its holdings in Rayonier Advanced Materials by 27.7% during the first quarter. Invesco Ltd. now owns 3,304,887 shares of the basic materials company’s stock worth $21,713,000 after purchasing an additional 717,466 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Rayonier Advanced Materials by 147.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 575,495 shares of the basic materials company’s stock worth $3,781,000 after purchasing an additional 342,790 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Rayonier Advanced Materials by 124.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 369,001 shares of the basic materials company’s stock valued at $2,424,000 after buying an additional 204,728 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $326,000. 84.73% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Trading Up 4.7 %

NYSE:RYAM opened at $7.74 on Wednesday. Rayonier Advanced Materials Inc. has a 12 month low of $2.43 and a 12 month high of $7.93. The company has a current ratio of 2.02, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The firm’s 50 day moving average is $4.74 and its 200 day moving average is $4.19. The stock has a market capitalization of $495.14 million, a PE ratio of -11.38 and a beta of 3.28.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RYAM shares. StockNews.com initiated coverage on Rayonier Advanced Materials in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Royal Bank of Canada raised their target price on Rayonier Advanced Materials from $6.00 to $9.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Finally, Bank of America cut their price target on shares of Rayonier Advanced Materials from $2.60 to $1.90 in a report on Thursday, October 13th.

About Rayonier Advanced Materials

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Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. Its 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.

See Also

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Institutional Ownership by Quarter for Rayonier Advanced Materials (NYSE:RYAM)

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