Voya Investment Management LLC Has $2.72 Million Stake in Rayonier Advanced Materials Inc. $RYAM

Voya Investment Management LLC decreased its stake in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 28.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 376,513 shares of the basic materials company’s stock after selling 149,165 shares during the quarter. Voya Investment Management LLC owned 0.56% of Rayonier Advanced Materials worth $2,718,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Rayonier Advanced Materials by 40.3% during the third quarter. Assenagon Asset Management S.A. now owns 346,635 shares of the basic materials company’s stock worth $2,503,000 after buying an additional 99,482 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Rayonier Advanced Materials by 754.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 7,031 shares in the last quarter. State of Wyoming grew its holdings in shares of Rayonier Advanced Materials by 28.4% during the 2nd quarter. State of Wyoming now owns 69,557 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 15,389 shares in the last quarter. Oxford Asset Management LLP increased its position in shares of Rayonier Advanced Materials by 290.0% during the second quarter. Oxford Asset Management LLP now owns 65,627 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 48,798 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in shares of Rayonier Advanced Materials by 19.1% in the second quarter. Balyasny Asset Management L.P. now owns 97,964 shares of the basic materials company’s stock valued at $377,000 after purchasing an additional 15,731 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RYAM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Rayonier Advanced Materials Stock Up 0.1%

Shares of NYSE RYAM opened at $5.85 on Friday. Rayonier Advanced Materials Inc. has a 52-week low of $3.35 and a 52-week high of $8.56. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.89 and a current ratio of 1.57. The business has a fifty day moving average of $6.29 and a two-hundred day moving average of $5.63. The stock has a market cap of $391.67 million, a PE ratio of -0.94 and a beta of 2.17.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, November 4th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $352.84 million during the quarter, compared to analysts’ expectations of $373.70 million. Rayonier Advanced Materials had a negative net margin of 28.21% and a negative return on equity of 13.64%. As a group, equities research analysts expect that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.