Voya Investment Management LLC Cuts Stock Holdings in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Voya Investment Management LLC cut its position in shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) by 43.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 328,421 shares of the basic materials company’s stock after selling 252,360 shares during the period. Voya Investment Management LLC owned 0.50% of Rayonier Advanced Materials worth $2,709,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC boosted its stake in shares of Rayonier Advanced Materials by 7.9% during the 4th quarter. Savant Capital LLC now owns 31,821 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 2,322 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rayonier Advanced Materials by 15.9% during 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 in the last quarter. Hsbc Holdings PLC grew its holdings 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 valued at $117,000 after purchasing an additional 3,852 shares during the period. Rhumbline Advisers increased its position in shares of Rayonier Advanced Materials by 3.5% in the fourth quarter. Rhumbline Advisers now owns 131,544 shares of the basic materials company’s stock valued at $1,085,000 after buying an additional 4,445 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of 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 valued at $347,000 after buying an additional 5,660 shares in the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RYAM shares. Royal Bank of Canada dropped their price target on shares of Rayonier Advanced Materials from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. StockNews.com lowered shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Friday, April 11th.

Rayonier Advanced Materials Trading Up 3.7 %

Shares of RYAM opened at $4.47 on Friday. Rayonier Advanced Materials Inc. has a 52-week low of $3.83 and a 52-week high of $10.28. The stock has a market cap of $298.38 million, a PE ratio of -3.49 and a beta of 2.63. The firm’s fifty day moving average is $5.34 and its two-hundred day moving average is $7.13. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

About Rayonier Advanced Materials

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.