MetLife Investment Management LLC Purchases Shares of 33,551 Rayonier Advanced Materials Inc. (NYSE:RYAM)

MetLife Investment Management LLC purchased a new stake in Rayonier Advanced Materials Inc. (NYSE:RYAM – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 33,551 shares of the basic materials company’s stock, valued at approximately $106,000. MetLife Investment Management LLC owned approximately 0.05% of Rayonier Advanced Materials at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of RYAM. The Manufacturers Life Insurance Company purchased a new stake in shares of Rayonier Advanced Materials in the third quarter valued at about $39,000. Mutual of America Capital Management LLC raised its position in shares of Rayonier Advanced Materials by 18.7% in the third quarter. Mutual of America Capital Management LLC now owns 12,728 shares of the basic materials company’s stock valued at $40,000 after buying an additional 2,004 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in shares of Rayonier Advanced Materials by 50.0% in the second quarter. Brandywine Global Investment Management LLC now owns 22,140 shares of the basic materials company’s stock valued at $58,000 after buying an additional 7,380 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Rayonier Advanced Materials in the third quarter valued at approximately $68,000. Finally, Jane Street Group LLC acquired a new position in shares of Rayonier Advanced Materials in the first quarter valued at approximately $70,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Rayonier Advanced Materials Stock Performance

NYSE:RYAM opened at $8.35 on Monday. The firm has a 50 day simple moving average of $7.39 and a 200-day simple moving average of $6.21. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.95 and a quick ratio of 1.20. Rayonier Advanced Materials Inc. has a 1-year low of $2.43 and a 1-year high of $9.84.

Rayonier Advanced Materials (NYSE:RYAM – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Rayonier Advanced Materials had a negative net margin of 0.82% and a negative return on equity of 2.91%. The business had revenue of $500.00 million during the quarter. During the same period in the prior year, the firm earned ($0.37) EPS. On average, equities research analysts anticipate that Rayonier Advanced Materials Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lowered shares of Rayonier Advanced Materials from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $9.00 to $8.00 in a research report on Monday, January 9th.

About Rayonier Advanced Materials

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Rayonier Advanced Materials, Inc engages in the production and sale of cellulose products, which is a natural polymer commonly used in the production of cellphones and computer screens, filters, and pharmaceuticals. It operates through the following segments: High Purity Cellulose, Paperboard, High-Yield Pulp, and Corporate.