Alambic Investment Management L.P. cut its holdings in shares of Rayonier Advanced Materials Inc (NYSE:RYAM) by 29.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,102 shares of the basic materials company’s stock after selling 65,249 shares during the quarter. Alambic Investment Management L.P. owned approximately 0.36% of Rayonier Advanced Materials worth $3,213,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in Rayonier Advanced Materials by 6.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,946 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 399 shares during the period. Quantbot Technologies LP boosted its position in Rayonier Advanced Materials by 1,613.9% during the 3rd quarter. Quantbot Technologies LP now owns 10,129 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 9,538 shares during the period. Smith Asset Management Group LP acquired a new position in Rayonier Advanced Materials during the 3rd quarter worth $146,000. Crossmark Global Holdings Inc. acquired a new position in Rayonier Advanced Materials during the 3rd quarter worth $176,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in Rayonier Advanced Materials during the 3rd quarter worth $186,000. Institutional investors own 95.33% of the company’s stock.
RYAM has been the subject of several research analyst reports. Zacks Investment Research upgraded Rayonier Advanced Materials from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Thursday, January 4th. Vertical Research lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. TheStreet raised Rayonier Advanced Materials from a “c” rating to a “b” rating in a research report on Wednesday, December 13th. ValuEngine lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $20.00 price target on shares of Rayonier Advanced Materials in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Rayonier Advanced Materials has a consensus rating of “Buy” and an average price target of $20.00.
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Rayonier Advanced Materials Profile
Rayonier Advanced Materials Inc is engaged in the production of cellulose specialties. The Company’s product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company’s products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics.
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