Rayonier Advanced Materials (NYSE:RYAM) Trading Down 3.9% – Here’s What Happened

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s share price was down 3.9% on Friday . The company traded as low as $7.97 and last traded at $7.99. Approximately 272,523 shares changed hands during trading, a decline of 15% from the average daily volume of 318,908 shares. The stock had previously closed at $8.31.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RYAM. StockNews.com downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Royal Bank of Canada raised their price objective on 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 Stock Performance

The stock has a market cap of $528.65 million, a P/E ratio of -6.27 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. The firm’s 50 day moving average is $8.45 and its 200 day moving average is $7.53.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data 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. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The firm had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $412.20 million. During the same quarter last year, the firm earned ($0.41) EPS. Analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Insider Activity

In other news, Director Eric Bowen purchased 12,500 shares of the stock in a transaction on Friday, December 13th. The stock was bought 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. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Rayonier Advanced Materials

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