Rayonier Advanced Materials (NYSE:RYAM) Hits New 12-Month High at $7.99

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $7.99 and last traded at $7.97, with a volume of 253054 shares traded. The stock had previously closed at $7.75.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RYAM. Royal Bank of Canada increased their target price on shares of Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Thursday, August 8th.

Rayonier Advanced Materials Stock Performance

The stock has a market capitalization of $544.94 million, a PE ratio of -5.16 and a beta of 3.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09. The business’s fifty day moving average price is $6.99 and its 200-day moving average price is $5.56.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.26. The business had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. During the same period last year, the firm posted ($0.25) earnings per share. As a group, equities research analysts expect that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Rayonier Advanced Materials by 471.8% in the 1st quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after acquiring an additional 1,648,101 shares during the last quarter. CastleKnight Management LP increased its stake in shares of Rayonier Advanced Materials by 1,036.0% in the fourth quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock worth $7,950,000 after buying an additional 1,790,257 shares during the period. Boston Partners increased its stake in shares of Rayonier Advanced Materials by 1,923.5% in the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock worth $10,307,000 after buying an additional 2,054,715 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Rayonier Advanced Materials by 30.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 717,391 shares of the basic materials company’s stock worth $3,429,000 after buying an additional 168,222 shares during the period. Finally, Bailard Inc. purchased a new position in shares of Rayonier Advanced Materials in the second quarter worth $254,000. 68.64% of the stock is currently owned by institutional investors.

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.