Rayonier Advanced Materials Inc. $RYAM Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC decreased its stake in Rayonier Advanced Materials by 9.1%, selling 151,693 shares and retaining approximately 2.28% of the company.
• Rayonier's CEO Delyle W. Bloomquist acquired 53,533 shares, increasing his ownership by 11.01%, valuing his total stake at approximately $2.54 million.
• Analysts upgraded Rayonier Advanced Materials' rating from "strong sell" to "hold," with a consensus rating of "Moderate Buy" and an average target price of $6.00.

Acadian Asset Management LLC trimmed its holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,521,554 shares of the basic materials company's stock after selling 151,693 shares during the period. Acadian Asset Management LLC owned about 2.28% of Rayonier Advanced Materials worth $8,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in shares of Rayonier Advanced Materials in the first quarter valued at about $34,000. Man Group plc bought a new stake in shares of Rayonier Advanced Materials in the fourth quarter worth about $142,000. Royce & Associates LP bought a new stake in shares of Rayonier Advanced Materials in the first quarter worth about $103,000. ProShare Advisors LLC increased its holdings in shares of Rayonier Advanced Materials by 49.0% in the fourth 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 during the last quarter. Finally, Saxon Interests Inc. bought a new stake in shares of Rayonier Advanced Materials in the first quarter worth about $117,000. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Rayonier Advanced Materials Stock Up 4.5%

Rayonier Advanced Materials stock traded up $0.31 during mid-day trading on Thursday, reaching $7.26. 212,478 shares of the company were exchanged, compared to its average volume of 565,803. The business has a fifty day moving average of $4.96 and a 200 day moving average of $4.70. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.83 and a current ratio of 1.45. The firm has a market cap of $486.43 million, a P/E ratio of -1.09 and a beta of 2.56. Rayonier Advanced Materials Inc. has a 12-month low of $3.35 and a 12-month high of $10.28.

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

Insider Activity

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist purchased 53,533 shares of Rayonier Advanced Materials stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $4.71 per share, with a total value of $252,140.43. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.41% of the company's stock.

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.