Rayonier Advanced Materials (NYSE:RYAM) Cut to Hold at StockNews.com

StockNews.com lowered shares of Rayonier Advanced Materials (NYSE:RYAM) from a buy rating to a hold rating in a report issued on Friday.

Separately, Royal Bank of Canada lifted their price objective on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Rayonier Advanced Materials Price Performance

Shares of RYAM opened at $7.47 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The company’s fifty day moving average price is $8.44 and its 200-day moving average price is $7.41. Rayonier Advanced Materials has a 1-year low of $3.15 and a 1-year high of $10.28. The firm has a market capitalization of $492.39 million, a PE ratio of -5.84 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.06. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The business had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. During the same quarter in the previous year, the business earned ($0.41) EPS. On average, equities research analysts predict that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Insider Buying and Selling at Rayonier Advanced Materials

In other news, Director Eric Bowen purchased 12,500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $8.04 per share, for a total transaction of $100,500.00. Following the completion of the transaction, the director now owns 12,500 shares in the company, valued at $100,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors have recently modified their holdings of the business. Quarry LP acquired a new position in Rayonier Advanced Materials in the 2nd quarter worth about $29,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $61,000. nVerses Capital LLC lifted its position in shares of Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after buying an additional 3,900 shares in the last quarter. Truist Financial Corp acquired a new stake in Rayonier Advanced Materials in the 2nd quarter valued at $66,000. Finally, Intech Investment Management LLC purchased a new stake in Rayonier Advanced Materials in the 3rd quarter worth $139,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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.