Rayonier Advanced Materials (NYSE:RYAM) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a buy rating to a hold rating in a research report released on Friday.

Separately, Royal Bank of Canada raised their target price on shares of 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 Stock Performance

NYSE RYAM opened at $7.47 on Friday. 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 50 day simple moving average is $8.44 and its 200-day simple moving average is $7.41. The company has a market cap of $492.39 million, a PE ratio of -5.84 and a beta of 3.01. 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. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The company had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. During the same quarter last year, the firm posted ($0.41) EPS. As a group, equities research analysts anticipate that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rayonier Advanced Materials news, Director Eric Bowen purchased 12,500 shares of the firm’s stock in a transaction dated 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 purchase, the director now directly 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 SEC, which is available at the SEC website. Corporate insiders own 3.14% of the company’s stock.

Institutional Trading of Rayonier Advanced Materials

Several institutional investors and hedge funds have recently bought and sold shares of RYAM. Dimensional Fund Advisors LP grew its stake in shares of Rayonier Advanced Materials by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock valued at $19,576,000 after buying an additional 201,939 shares in the last quarter. American Century Companies Inc. increased its stake in Rayonier Advanced Materials by 24.7% during the second quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock worth $8,248,000 after purchasing an additional 300,793 shares during the period. Renaissance Technologies LLC lifted its position in shares of Rayonier Advanced Materials by 7.2% during the second quarter. Renaissance Technologies LLC now owns 1,496,142 shares of the basic materials company’s stock worth $8,139,000 after purchasing an additional 101,128 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Rayonier Advanced Materials by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,492,578 shares of the basic materials company’s stock valued at $12,779,000 after purchasing an additional 26,032 shares during the period. Finally, State Street Corp grew its holdings in shares of Rayonier Advanced Materials by 1.1% in the third quarter. State Street Corp now owns 1,440,085 shares of the basic materials company’s stock valued at $12,327,000 after purchasing an additional 16,139 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other 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.