Nuveen LLC Makes New Investment in 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 bought a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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 reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its position 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 buying an additional 473,723 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Rayonier Advanced Materials in the 1st quarter valued at about $34,000. Deutsche Bank AG increased its position in Rayonier Advanced Materials by 18.2% in the 4th 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 in the last quarter. Assenagon Asset Management S.A. increased its position in Rayonier Advanced Materials by 13.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 259,475 shares of the basic materials company's stock valued at $1,492,000 after buying an additional 30,282 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Rayonier Advanced Materials by 64.4% in the 4th quarter. AQR Capital Management LLC now owns 507,373 shares of the basic materials company's stock valued at $4,186,000 after buying an additional 198,709 shares in the last quarter. 68.64% of the stock is owned by institutional investors.

Insider Transactions at Rayonier Advanced Materials

In other news, CEO Delyle W. Bloomquist acquired 53,533 shares of Rayonier Advanced Materials stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $4.71 per share, with a total value of $252,140.43. Following the transaction, the chief executive officer 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.41% of the company's stock.

Rayonier Advanced Materials Stock Up 0.6%

NYSE RYAM traded up $0.04 during trading hours on Friday, hitting $5.59. The company's stock had a trading volume of 495,760 shares, compared to its average volume of 821,359. Rayonier Advanced Materials Inc. has a 52 week low of $3.35 and a 52 week high of $10.28. The company has a market capitalization of $374.20 million, a PE ratio of -0.84 and a beta of 2.49. 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's 50-day simple moving average is $4.41 and its two-hundred day simple moving average is $4.80.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $387.07 million. Research analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RYAM has been the subject of a number of research analyst reports. Wall Street Zen lowered Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Zacks Research raised shares of Rayonier Advanced Materials to a "strong sell" rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada dropped their price target 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. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" 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.