Russell Investments Group Ltd. Sells 359,866 Shares of Rayonier Advanced Materials Inc. $RYAM

Key Points

• Russell Investments Group Ltd. reduced its holdings in Rayonier Advanced Materials by 48.2%, now owning 386,298 shares worth approximately $2.22 million.
• Rayonier Advanced Materials reported a loss of $0.43 per share in its recent earnings, missing analysts' expectations, with revenues of $340 million.
• Institutional investors own 68.64% of Rayonier Advanced Materials, indicating strong institutional interest in the company's stock.

Russell Investments Group Ltd. decreased its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 48.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 386,298 shares of the basic materials company's stock after selling 359,866 shares during the period. Russell Investments Group Ltd. owned about 0.58% of Rayonier Advanced Materials worth $2,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rayonier Advanced Materials by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,631 shares of the basic materials company's stock worth $302,000 after purchasing an additional 1,596 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rayonier Advanced Materials by 15.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,135 shares of the basic materials company's stock worth $200,000 after purchasing an additional 3,305 shares during the last quarter. Hsbc Holdings PLC boosted its position in Rayonier Advanced Materials by 36.6% in the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock worth $117,000 after purchasing an additional 3,852 shares during the last quarter. MetLife Investment Management LLC boosted its position in Rayonier Advanced Materials by 15.5% in the fourth quarter. MetLife Investment Management LLC now owns 42,098 shares of the basic materials company's stock worth $347,000 after purchasing an additional 5,660 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Rayonier Advanced Materials during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 68.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RYAM. Royal Bank Of Canada lowered their price objective on Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Zacks Research upgraded shares of Rayonier Advanced Materials to a "strong sell" rating in a research report 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 report on Thursday, May 15th. One equities research analyst has rated the stock with a Buy rating and one has given 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 Stock Performance

Shares of NYSE:RYAM traded up $0.04 during midday trading on Friday, reaching $5.59. 495,760 shares of the company traded hands, compared to its average volume of 821,359. The company has a quick ratio of 0.83, a current ratio of 1.45 and a debt-to-equity ratio of 2.10. Rayonier Advanced Materials Inc. has a 12 month low of $3.35 and a 12 month high of $10.28. The firm has a market capitalization of $374.20 million, a price-to-earnings ratio of -0.84 and a beta of 2.49. The firm's fifty day moving average price is $4.41 and its two-hundred day moving average price is $4.80.

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

Insider Activity

In related news, CEO Delyle W. Bloomquist acquired 53,533 shares of the firm's stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.