Connor Clark & Lunn Investment Management Ltd. Sells 66,827 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 39.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,654 shares of the basic materials company’s stock after selling 66,827 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Rayonier Advanced Materials worth $830,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Rayonier Advanced Materials by 157.9% in the third quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company’s stock worth $4,288,000 after buying an additional 306,640 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Rayonier Advanced Materials in the third quarter worth about $2,574,000. BNP Paribas Financial Markets lifted its position in shares of Rayonier Advanced Materials by 760.4% in the third quarter. BNP Paribas Financial Markets now owns 183,971 shares of the basic materials company’s stock worth $1,575,000 after buying an additional 162,588 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its position in shares of Rayonier Advanced Materials by 100.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 233,700 shares of the basic materials company’s stock worth $2,000,000 after buying an additional 117,000 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Rayonier Advanced Materials by 176.2% in the third quarter. Jane Street Group LLC now owns 174,693 shares of the basic materials company’s stock worth $1,495,000 after buying an additional 111,440 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Trading Down 1.2 %

Shares of RYAM stock opened at $5.36 on Friday. Rayonier Advanced Materials Inc. has a 1 year low of $3.72 and a 1 year high of $10.28. 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 stock’s 50 day simple moving average is $7.10 and its two-hundred day simple moving average is $7.86. The company has a market cap of $353.85 million, a PE ratio of -4.19 and a beta of 3.02.

Wall Street Analysts Forecast Growth

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

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.