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Impax Asset Management Group plc Cuts Stock Holdings in Rayonier Inc. $RYN
Impax Asset Management Group plc has reduced its stake in Rayonier Inc. (NYSE:RYN) by 5.3% in the fourth quarter, selling 61,905 shares and bringing their total ownership to 1,097,153 shares valued at $23.75 million. Several other institutional investors also adjusted their positions in Rayonier, while corporate insiders, including CFO Wayne Wasechek and Chairman Eric J. Cremers, sold substantial amounts of their shares. Analyst ratings for Rayonier are mixed, with a consensus “Hold” rating and an average price target of $25.50, and the company recently announced a quarterly dividend of $0.26 per share.