Nuveen LLC Acquires Shares of 652,237 Rayonier Advanced Materials Inc. $RYAM

Key Points

• Nuveen LLC acquired 652,237 shares of Rayonier Advanced Materials Inc., valued at approximately $3.75 million, making it a notable position for the institutional investor.
• Analysts have recently changed their ratings on Rayonier Advanced Materials, with Wall Street Zen downgrading it from "buy" to "hold," and Zacks Research assigning a "strong sell" rating.
• The CEO, Delyle W. Bloomquist, purchased 53,533 shares at an average price of $4.71, indicating confidence in the company's future despite recent stock performance challenges.

Nuveen LLC acquired a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 652,237 shares of the basic materials company's stock, valued at approximately $3,750,000. Nuveen LLC owned approximately 0.98% of Rayonier Advanced Materials at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Rayonier Advanced Materials by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,970,285 shares of the basic materials company's stock valued at $32,754,000 after purchasing an additional 146,799 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 valued at $21,816,000 after purchasing an additional 58,671 shares in the last quarter. Millennium Management LLC raised its holdings in shares of 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 raised its holdings in shares of Rayonier Advanced Materials by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 655,994 shares of the basic materials company's stock valued at $5,412,000 after purchasing an additional 6,810 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rayonier Advanced Materials by 57.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 651,776 shares of the basic materials company's stock valued at $3,748,000 after purchasing an additional 238,998 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Advanced Materials Stock Up 1.0%

NYSE:RYAM traded up $0.06 during midday trading on Tuesday, hitting $5.63. 905,520 shares of the company were exchanged, compared to its average volume of 790,253. 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 company has a market capitalization of $376.88 million, a PE ratio of -0.84 and a beta of 2.56. Rayonier Advanced Materials Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $10.28. The company has a fifty day simple moving average of $4.48 and a 200 day simple moving average of $4.78.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $387.07 million. Rayonier Advanced Materials had a negative net margin of 29.23% and a negative return on equity of 12.11%. As a group, equities analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RYAM has been the topic of a number of analyst reports. Royal Bank Of Canada reduced 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 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 research note on Thursday, May 15th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.00.

Insider Buying and Selling

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist acquired 53,533 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost 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 $2,541,313.47. This trade represents a 11.01% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.41% of the company's stock.

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.