Invesco Ltd. Decreases Stake in Rayonier Advanced Materials Inc. $RYAM

Key Points

• Invesco Ltd. reduced its stake in Rayonier Advanced Materials by 17.2%, leaving them with 305,322 shares now valued at approximately $1.76 million.
• Rayonier Advanced Materials reported a loss of ($0.43) earnings per share, falling short of the $0.20 estimate, with a negative net margin of 29.23% for the quarter.
• CEO Delyle W. Bloomquist acquired 53,533 shares of Rayonier stock at an average price of $4.71 per share, increasing his ownership by 11.01% in the company.

Invesco Ltd. trimmed its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 305,322 shares of the basic materials company's stock after selling 63,460 shares during the period. Invesco Ltd. owned about 0.46% of Rayonier Advanced Materials worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. New York State Teachers Retirement System bought a new position in shares of Rayonier Advanced Materials during the 1st quarter worth $34,000. Royce & Associates LP bought a new position in Rayonier Advanced Materials during the 1st quarter worth about $103,000. Hsbc Holdings PLC raised its holdings in shares of Rayonier Advanced Materials by 36.6% in the 4th 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 in the last quarter. Saxon Interests Inc. bought a new position in Rayonier Advanced Materials in the first quarter worth approximately $117,000. Finally, Man Group plc purchased a new position in shares of Rayonier Advanced Materials in the 4th quarter valued at $142,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Delyle W. Bloomquist bought 53,533 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $4.71 per share, with a total value of $252,140.43. Following the completion of the purchase, the chief executive officer directly owned 539,557 shares of the company's stock, valued at approximately $2,541,313.47. This trade represents a 11.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 4.41% of the stock is currently owned by company insiders.

Rayonier Advanced Materials Stock Performance

Shares of Rayonier Advanced Materials stock traded up $0.06 on Tuesday, reaching $5.63. 905,520 shares of the stock were exchanged, compared to its average volume of 790,253. Rayonier Advanced Materials Inc. has a twelve month low of $3.35 and a twelve month high of $10.28. The company has a quick ratio of 0.83, a current ratio of 1.45 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $376.88 million, a price-to-earnings ratio of -0.84 and a beta of 2.56. The business has a 50 day moving average price of $4.48 and a two-hundred day moving average price of $4.78.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RYAM shares. Royal Bank Of Canada cut their price objective on shares of Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Zacks Research upgraded shares of Rayonier Advanced Materials to a "strong sell" rating in a research note on Friday, August 8th. Finally, Wall Street Zen lowered shares of Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $6.00.

Rayonier Advanced Materials Company 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.