Voya Investment Management LLC Sells 252,360 Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM)

Voya Investment Management LLC lessened its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM - Free Report) by 43.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 328,421 shares of the basic materials company's stock after selling 252,360 shares during the quarter. Voya Investment Management LLC owned about 0.50% of Rayonier Advanced Materials worth $2,709,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ieq Capital LLC bought a new position in Rayonier Advanced Materials in the 4th quarter valued at approximately $83,000. Entropy Technologies LP acquired a new stake in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $84,000. Townsquare Capital LLC acquired a new position in Rayonier Advanced Materials during the 4th quarter worth approximately $85,000. Walleye Capital LLC acquired a new position in Rayonier Advanced Materials during the fourth quarter worth $113,000. Finally, Hsbc Holdings PLC boosted its stake in Rayonier Advanced Materials by 36.6% during the 4th quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock valued at $117,000 after purchasing an additional 3,852 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Rayonier Advanced Materials Stock Performance

RYAM stock traded down $0.20 during midday trading on Monday, reaching $4.27. 364,347 shares of the company's stock traded hands, compared to its average volume of 527,576. The firm has a market capitalization of $285.10 million, a PE ratio of -3.34 and a beta of 2.63. Rayonier Advanced Materials Inc. has a 52 week low of $3.83 and a 52 week high of $10.28. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. The company has a 50-day moving average price of $5.34 and a two-hundred day moving average price of $7.11.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RYAM shares. StockNews.com lowered shares of Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Royal Bank of Canada decreased their price objective on Rayonier Advanced Materials from $12.00 to $11.00 and set an "outperform" rating for the company in a report on Friday, March 7th.

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.