Rayonier Advanced Materials Inc. $RYAM Shares Sold by Jacobs Levy Equity Management Inc.

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. cut its holdings in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 619,171 shares of the basic materials company's stock after selling 79,955 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.93% of Rayonier Advanced Materials worth $3,560,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RYAM. Vanguard Group Inc. boosted its stake in Rayonier Advanced Materials by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 3,794,079 shares of the basic materials company's stock worth $21,816,000 after purchasing an additional 58,671 shares during the period. American Century Companies Inc. lifted its holdings in Rayonier Advanced Materials by 11.8% in the first quarter. American Century Companies Inc. now owns 2,425,104 shares of the basic materials company's stock valued at $13,944,000 after acquiring an additional 255,784 shares during the period. Millennium Management LLC lifted its holdings in Rayonier Advanced Materials by 127.0% in the 4th quarter. Millennium Management LLC now owns 846,678 shares of the basic materials company's stock valued at $6,985,000 after purchasing an additional 473,723 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Rayonier Advanced Materials by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 655,994 shares of the basic materials company's stock worth $5,412,000 after purchasing an additional 6,810 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Rayonier Advanced Materials in the 1st quarter valued at about $3,750,000. Hedge funds and other institutional investors own 68.64% of the company's stock.

Insider Transactions at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist acquired 53,533 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price 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 in the company, valued at $2,541,313.47. This trade represents a 11.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.41% of the stock is currently owned by insiders.

Rayonier Advanced Materials Trading Up 2.8%

Rayonier Advanced Materials stock traded up $0.17 during trading hours on Friday, reaching $6.31. 645,916 shares of the company's stock were exchanged, compared to its average volume of 680,315. 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's 50 day simple moving average is $4.81 and its 200 day simple moving average is $4.72. The firm has a market capitalization of $422.77 million, a PE ratio of -0.95 and a beta of 2.56. 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 posted its 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). Rayonier Advanced Materials had a negative return on equity of 12.11% and a negative net margin of 29.23%.The firm had revenue of $340.00 million for the quarter, compared to the consensus estimate of $387.07 million. Research analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on RYAM. Wall Street Zen lowered Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Zacks Research upgraded Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research note on Monday. One 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, Rayonier Advanced Materials presently has a consensus rating of "Moderate Buy" and an average target price of $6.00.

Rayonier Advanced Materials 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.