Jacobs Levy Equity Management Inc. Trims Holdings in Rayonier Advanced Materials Inc. $RYAM

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Rayonier Advanced Materials by 11.4%, selling 79,955 shares and retaining a total of 619,171 shares worth approximately $3.56 million.
• Recently, the stock's consensus rating is "Hold" with a price target of $6.00, following various downgrades from analysts, including a shift from "buy" to "hold" by Wall Street Zen.
• CEO Delyle W. Bloomquist purchased 53,533 shares at an average price of $4.71, increasing his ownership to 539,557 shares, valued at around $2.54 million.

Jacobs Levy Equity Management Inc. decreased its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 619,171 shares of the basic materials company's stock after selling 79,955 shares during the period. Jacobs Levy Equity Management Inc. owned 0.93% of Rayonier Advanced Materials worth $3,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC increased its stake in shares of Rayonier Advanced Materials by 127.0% in the fourth quarter. Millennium Management LLC now owns 846,678 shares of the basic materials company's stock valued at $6,985,000 after buying an additional 473,723 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Rayonier Advanced Materials in the first quarter valued at about $34,000. Deutsche Bank AG increased its stake in shares of Rayonier Advanced Materials by 18.2% in the fourth quarter. Deutsche Bank AG now owns 123,297 shares of the basic materials company's stock valued at $1,017,000 after buying an additional 18,954 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rayonier Advanced Materials by 57.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 651,776 shares of the basic materials company's stock valued at $3,748,000 after buying an additional 238,998 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Rayonier Advanced Materials by 13.2% during the first quarter. Assenagon Asset Management S.A. now owns 259,475 shares of the basic materials company's stock worth $1,492,000 after purchasing an additional 30,282 shares during the period. Institutional investors and hedge funds own 68.64% of the company's stock.

Rayonier Advanced Materials Stock Up 4.1%

Shares of RYAM stock traded up $0.26 during trading hours on Monday, reaching $6.55. The company had a trading volume of 141,140 shares, compared to its average volume of 564,779. Rayonier Advanced Materials Inc. has a 12 month low of $3.35 and a 12 month high of $10.28. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.45 and a quick ratio of 0.83. The business has a fifty day simple moving average of $4.81 and a 200-day simple moving average of $4.68. The company has a market cap of $438.52 million, a price-to-earnings ratio of -0.98 and a beta of 2.55.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its quarterly 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 business had revenue of $340.00 million for the quarter, compared to the consensus estimate of $387.07 million. Rayonier Advanced Materials had a negative return on equity of 12.11% and a negative net margin of 29.23%. On average, research analysts expect that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist purchased 53,533 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $4.71 per share, for a total transaction of $252,140.43. Following the completion of the acquisition, the chief executive officer owned 539,557 shares of the company's stock, valued at $2,541,313.47. The trade was a 11.01% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.41% of the company's stock.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently 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.