Rayonier Advanced Materials (NYSE:RYAM) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Rayonier Advanced Materials (NYSE:RYAM) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

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 report on Thursday, November 7th.

Rayonier Advanced Materials Stock Up 0.8 %

Shares of RYAM opened at $7.47 on Friday. The stock has a 50 day moving average price of $8.44 and a 200 day moving average price of $7.39. The stock has a market capitalization of $492.39 million, a price-to-earnings ratio of -5.84 and a beta of 3.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. Rayonier Advanced Materials has a one year low of $3.15 and a one year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.06. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. The firm had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. During the same period last year, the business earned ($0.41) earnings per share. Equities research analysts forecast that Rayonier Advanced Materials will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Rayonier Advanced Materials

In other news, Director Eric Bowen acquired 12,500 shares of the company’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $8.04 per share, with a total value of $100,500.00. Following the transaction, the director now owns 12,500 shares in the company, valued at approximately $100,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Rayonier Advanced Materials during the second quarter worth about $29,000. nVerses Capital LLC grew its stake in 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 worth $61,000 after buying an additional 3,900 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials during the second quarter worth approximately $61,000. Truist Financial Corp purchased a new stake in Rayonier Advanced Materials in the second quarter valued at approximately $66,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Rayonier Advanced Materials in the third quarter valued at approximately $139,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

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.