Rayonier Advanced Materials (NYSE:RYAM) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Rayonier Advanced Materials (NYSE:RYAM) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Separately, Royal Bank of Canada lifted their price target on Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, September 19th.

Rayonier Advanced Materials Stock Performance

RYAM stock opened at $9.96 on Wednesday. The firm has a 50 day simple moving average of $8.18 and a 200 day simple moving average of $6.57. Rayonier Advanced Materials has a 52 week low of $3.02 and a 52 week high of $10.24. The stock has a market cap of $656.26 million, a P/E ratio of -7.78 and a beta of 3.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $401.00 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted ($0.41) earnings per share. Research analysts anticipate that Rayonier Advanced Materials will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners raised its holdings in Rayonier Advanced Materials by 1,923.5% during the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock valued at $10,307,000 after buying an additional 2,054,715 shares in the last quarter. Russell Investments Group Ltd. raised its stake 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 valued at $9,548,000 after acquiring an additional 1,648,101 shares in the last quarter. American Century Companies Inc. lifted its holdings in Rayonier Advanced Materials by 24.7% in the 2nd 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 last quarter. Assenagon Asset Management S.A. lifted its holdings in Rayonier Advanced Materials by 226.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 325,037 shares of the basic materials company’s stock worth $2,782,000 after purchasing an additional 225,575 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Rayonier Advanced Materials by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock worth $19,576,000 after purchasing an additional 201,939 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

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.