Rayonier Advanced Materials (NYSE:RYAM) Downgraded to “Hold” Rating by 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 boosted their target price on shares of 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

NYSE RYAM opened at $7.47 on Friday. The company has a market cap 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 current ratio of 1.73 and a quick ratio of 1.09. The stock’s fifty day moving average price is $8.44 and its 200 day moving average price is $7.39. Rayonier Advanced Materials has a 1 year low of $3.15 and a 1 year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period in the prior year, the company earned ($0.41) earnings per share. As a group, equities research analysts forecast that Rayonier Advanced Materials will post -0.08 earnings per share for the current year.

Insider Activity at Rayonier Advanced Materials

In other news, Director Eric Bowen bought 12,500 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $8.04 per share, with a total value of $100,500.00. Following the purchase, the director now directly owns 12,500 shares in the company, valued at $100,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its position in shares of Rayonier Advanced Materials by 1.8% in the third quarter. Public Employees Retirement System of Ohio now owns 63,054 shares of the basic materials company’s stock valued at $540,000 after buying an additional 1,139 shares in the last quarter. nVerses Capital LLC increased its holdings in Rayonier Advanced Materials by 121.9% in the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 3,900 shares in the last quarter. Quarry LP acquired a new position in Rayonier Advanced Materials during the second quarter worth $29,000. Mercer Global Advisors Inc. ADV purchased a new position in Rayonier Advanced Materials during the second quarter valued at $61,000. Finally, Truist Financial Corp purchased a new position in Rayonier Advanced Materials during the second quarter valued at $66,000. 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.