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

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 on Friday.

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

Rayonier Advanced Materials Trading Up 0.8 %

Rayonier Advanced Materials stock traded up $0.06 during midday trading on Friday, hitting $7.47. 856,571 shares of the stock were exchanged, compared to its average volume of 528,329. Rayonier Advanced Materials has a 52 week low of $3.15 and a 52 week 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. The stock has a market capitalization of $492.39 million, a PE ratio of -5.84 and a beta of 3.01. The company has a fifty day simple moving average of $8.44 and a two-hundred day simple moving average of $7.39.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $401.00 million during the quarter, compared to analysts’ expectations 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 previous year, the firm earned ($0.41) earnings per share. Equities research analysts anticipate that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Eric Bowen bought 12,500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price 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 $100,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Rayonier Advanced Materials

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in shares of Rayonier Advanced Materials in the second quarter worth $541,000. Bank of New York Mellon Corp boosted its stake in shares of Rayonier Advanced Materials by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 333,677 shares of the basic materials company’s stock worth $1,815,000 after buying an additional 24,627 shares during the last quarter. Bailard Inc. bought a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at about $254,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Rayonier Advanced Materials by 4,134.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 27,566 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 26,915 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Rayonier Advanced Materials by 14.3% in the second quarter. Rhumbline Advisers now owns 149,490 shares of the basic materials company’s stock valued at $813,000 after acquiring an additional 18,754 shares during the last quarter. Institutional investors and hedge funds 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.