CastleKnight Management LP Sells 33,600 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

CastleKnight Management LP lessened its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 366,610 shares of the basic materials company’s stock after selling 33,600 shares during the quarter. CastleKnight Management LP owned about 0.56% of Rayonier Advanced Materials worth $3,025,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Ieq Capital LLC bought a new position in Rayonier Advanced Materials in the 4th quarter worth about $83,000. Entropy Technologies LP purchased a new position in Rayonier Advanced Materials in the 4th quarter worth approximately $84,000. Townsquare Capital LLC bought a new stake in shares of Rayonier Advanced Materials in the 4th quarter worth $85,000. Walleye Capital LLC bought a new position in shares of Rayonier Advanced Materials during the fourth quarter valued at $113,000. Finally, Hsbc Holdings PLC lifted its position in Rayonier Advanced Materials by 36.6% during the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 3,852 shares during the period. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RYAM. Royal Bank of Canada lowered their target price on Rayonier Advanced Materials from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. StockNews.com cut Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Friday, April 11th.

Rayonier Advanced Materials Stock Down 4.5 %

Shares of RYAM stock opened at $4.27 on Tuesday. The stock has a market cap of $285.10 million, a P/E ratio of -3.34 and a beta of 2.63. The company’s fifty day simple moving average is $5.27 and its two-hundred day simple moving average is $7.09. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. Rayonier Advanced Materials Inc. has a 52 week low of $3.83 and a 52 week high of $10.28.

About Rayonier Advanced Materials

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.