State Board of Administration of Florida Retirement System Cuts Stake in Rayonier Advanced Materials Inc. (NYSE:RYAM)

State Board of Administration of Florida Retirement System cut its stake in Rayonier Advanced Materials Inc. (NYSE:RYAM – Get Rating) by 23.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,089 shares of the basic materials company’s stock after selling 7,850 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Rayonier Advanced Materials were worth $250,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System bought a new stake in Rayonier Advanced Materials in the fourth quarter valued at about $253,000. MetLife Investment Management LLC bought a new position in shares of Rayonier Advanced Materials in the third quarter valued at $106,000. Cornerstone Investment Partners LLC acquired a new stake in Rayonier Advanced Materials during the 4th quarter valued at $226,000. Bailard Inc. acquired a new stake in Rayonier Advanced Materials during the 4th quarter valued at $308,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter valued at $120,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Lisa M. Palumbo acquired 10,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of $4.93 per share, with a total value of $49,300.00. Following the completion of the purchase, the director now owns 106,302 shares of the company’s stock, valued at $524,068.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Delyle W. Bloomquist acquired 60,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $4.47 per share, for a total transaction of $268,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 154,769 shares in the company, valued at approximately $691,817.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa M. Palumbo acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $4.93 per share, for a total transaction of $49,300.00. Following the completion of the acquisition, the director now owns 106,302 shares of the company’s stock, valued at $524,068.86. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 89,195 shares of company stock valued at $400,451. 3.14% of the stock is currently owned by insiders.

Rayonier Advanced Materials Stock Up 3.1 %

Shares of RYAM opened at $4.34 on Monday. The company has a 50-day simple moving average of $5.56 and a 200-day simple moving average of $6.86. The firm has a market capitalization of $282.62 million, a P/E ratio of 27.13 and a beta of 3.12. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.32 and a current ratio of 2.06. Rayonier Advanced Materials Inc. has a 52 week low of $2.43 and a 52 week high of $9.84.

Rayonier Advanced Materials (NYSE:RYAM – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. Rayonier Advanced Materials had a net margin of 0.71% and a return on equity of 0.62%. The firm had revenue of $500.00 million during the quarter. During the same period last year, the company earned ($0.37) EPS. On average, equities research analysts expect that Rayonier Advanced Materials Inc. will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Rayonier Advanced Materials from a “sector perform” rating to an “outperform” rating and set a $7.00 price target for the company in a report on Thursday, May 11th. StockNews.com began coverage on shares of Rayonier Advanced Materials in a report on Thursday. They set a “hold” rating for the company.

Rayonier Advanced Materials Profile

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Rayonier Advanced Materials, Inc engages in the manufacture of high purity cellulose, paperboard, and high-yield pulp products. It operates through the following segments: High Purity Cellulose, Paperboard, and High-Yield Pulp. The High Purity Cellulose segment manufactures and markets high purity cellulose, which is sold as either cellulose specialties or commodity products in the U.S., Canada, and France.