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

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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

Rayonier Advanced Materials Price Performance

Rayonier Advanced Materials stock traded up $0.06 during mid-day trading on Friday, hitting $7.47. 856,571 shares of the company were exchanged, compared to its average volume of 528,329. The company has a market capitalization of $492.39 million, a PE ratio of -5.84 and a beta of 3.01. The business has a fifty day moving average of $8.44 and a 200 day moving average of $7.39. Rayonier Advanced Materials has a 1-year low of $3.15 and a 1-year high of $10.28. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same quarter last year, the company posted ($0.41) EPS. As a group, sell-side analysts expect that Rayonier Advanced Materials will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Rayonier Advanced Materials

In other news, Director Eric Bowen bought 12,500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was 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 directly owns 12,500 shares in the company, valued at $100,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.14% of the company’s stock.

Institutional Trading of Rayonier Advanced Materials

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Rayonier Advanced Materials during the 2nd quarter valued at about $29,000. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials in the second quarter valued at approximately $61,000. nVerses Capital LLC boosted its stake in Rayonier Advanced Materials by 121.9% in the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 3,900 shares during the last quarter. Truist Financial Corp bought a new position in Rayonier Advanced Materials in the second quarter valued at approximately $66,000. Finally, Intech Investment Management LLC bought a new stake in shares of Rayonier Advanced Materials during the 3rd quarter valued at $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.