Strs Ohio Acquires Shares of 95,900 Rayonier Advanced Materials Inc. $RYAM

Key Points

• Strs Ohio acquired 95,900 shares of Rayonier Advanced Materials, worth approximately $551,000, representing 0.14% of the company as of the latest SEC filing.
• In the first quarter, several institutional investors, including Vanguard Group Inc. and Millennium Management LLC, increased their holdings in Rayonier Advanced Materials, indicating growing confidence in the company.
• Rayonier Advanced Materials has faced financial challenges, recently reporting a loss of $0.43 EPS for the latest quarter, missing analyst expectations significantly.

Strs Ohio purchased a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 95,900 shares of the basic materials company's stock, valued at approximately $551,000. Strs Ohio owned approximately 0.14% of Rayonier Advanced Materials at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RYAM. New York State Teachers Retirement System purchased a new position in Rayonier Advanced Materials in the 1st quarter worth approximately $34,000. Man Group plc purchased a new position in Rayonier Advanced Materials in the 4th quarter worth approximately $142,000. Royce & Associates LP purchased a new position in Rayonier Advanced Materials in the 1st quarter worth approximately $103,000. ProShare Advisors LLC lifted its stake in Rayonier Advanced Materials by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 18,030 shares of the basic materials company's stock worth $149,000 after purchasing an additional 5,932 shares in the last quarter. Finally, Saxon Interests Inc. purchased a new position in Rayonier Advanced Materials in the 1st quarter worth approximately $117,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Stock Down 0.4%

Shares of RYAM stock traded down $0.03 on Tuesday, reaching $6.98. 197,849 shares of the stock were exchanged, compared to its average volume of 574,123. The company has a current ratio of 1.45, a quick ratio of 0.83 and a debt-to-equity ratio of 2.10. The business's 50 day moving average price is $5.12 and its 200 day moving average price is $4.67. The company has a market capitalization of $467.33 million, a price-to-earnings ratio of -1.05 and a beta of 2.55. Rayonier Advanced Materials Inc. has a twelve month low of $3.35 and a twelve month high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its earnings results on Tuesday, August 5th. The basic materials company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.23). The firm had revenue of $340.00 million for the quarter, compared to analyst estimates of $387.07 million. Rayonier Advanced Materials had a negative return on equity of 12.11% and a negative net margin of 29.23%. As a group, sell-side analysts expect that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Rayonier Advanced Materials

In other news, CEO Delyle W. Bloomquist bought 53,533 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $4.71 per share, for a total transaction of $252,140.43. Following the completion of the purchase, the chief executive officer owned 539,557 shares in the company, valued at approximately $2,541,313.47. This trade represents a 11.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.41% of the company's stock.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Rayonier Advanced Materials currently has a consensus rating of "Moderate Buy" and an average target price of $6.00.

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.