Voya Investment Management LLC Acquires 160,788 Shares of Rayonier Advanced Materials Inc. $RYAM

Key Points

• Voya Investment Management LLC increased its stake in Rayonier Advanced Materials by 49.0%, purchasing an additional 160,788 shares, which brought its total holdings to approximately $2.81 million.
• CEO Delyle W. Bloomquist bought 53,533 shares of Rayonier Advanced Materials at a price of $4.71 per share, marking an 11.01% increase in his ownership to approximately $2.54 million.
• Zacks Research upgraded Rayonier Advanced Materials from a "strong sell" to a "hold" rating, with an average price target of $6.00 as research analysts forecast the company will post a -0.08 EPS for the year.

Voya Investment Management LLC boosted its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 49.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 489,209 shares of the basic materials company's stock after purchasing an additional 160,788 shares during the period. Voya Investment Management LLC owned approximately 0.73% of Rayonier Advanced Materials worth $2,813,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in shares of Rayonier Advanced Materials during the first quarter valued at about $34,000. Royce & Associates LP acquired a new stake in shares of Rayonier Advanced Materials during the first quarter valued at about $103,000. Saxon Interests Inc. acquired a new stake in shares of Rayonier Advanced Materials during the first quarter valued at about $117,000. Man Group plc acquired a new stake in shares of Rayonier Advanced Materials during the fourth quarter valued at about $142,000. Finally, ProShare Advisors LLC grew its stake in shares of Rayonier Advanced Materials by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 18,030 shares of the basic materials company's stock valued at $149,000 after acquiring an additional 5,932 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rayonier Advanced Materials presently has an average rating of "Moderate Buy" and a consensus target price of $6.00.

Insider Activity

In related news, CEO Delyle W. Bloomquist acquired 53,533 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $4.71 per share, for a total transaction of $252,140.43. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.41% of the company's stock.

Rayonier Advanced Materials Stock Down 0.4%

Shares of NYSE:RYAM traded down $0.03 during trading on Tuesday, reaching $6.98. 197,849 shares of the company traded hands, compared to its average volume of 574,123. The firm has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $4.67. The firm has a market cap of $467.33 million, a P/E ratio of -1.05 and a beta of 2.55. Rayonier Advanced Materials Inc. has a 1-year low of $3.35 and a 1-year high of $10.28. 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 (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 the consensus estimate 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 business had revenue of $340.00 million during the quarter, compared to analyst estimates of $387.07 million. Analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

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.