Zacks Investment Research lowered shares of Rayonier Advanced Materials (NYSE:RYAM) from a hold rating to a sell rating in a research report report published on Thursday morning, Zacks.com reports.
According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “
RYAM has been the subject of a number of other reports. ValuEngine raised Rayonier Advanced Materials from a hold rating to a buy rating in a report on Tuesday. Berenberg Bank lowered Rayonier Advanced Materials from a buy rating to a hold rating and cut their price target for the stock from $15.00 to $5.00 in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $9.50.
RYAM traded up $0.04 during midday trading on Thursday, reaching $3.81. The company had a trading volume of 464,700 shares, compared to its average volume of 466,665. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.22 and a current ratio of 2.15. The stock has a market cap of $238.30 million, a PE ratio of -3.72 and a beta of 3.73. Rayonier Advanced Materials has a 12-month low of $2.50 and a 12-month high of $15.66. The business has a 50-day moving average price of $3.89 and a two-hundred day moving average price of $4.09.
Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.16). Rayonier Advanced Materials had a negative return on equity of 5.65% and a negative net margin of 1.99%. The company had revenue of $416.00 million during the quarter, compared to the consensus estimate of $471.24 million. During the same period in the previous year, the business earned $0.54 earnings per share. Rayonier Advanced Materials’s revenue was down 17.0% on a year-over-year basis. On average, research analysts anticipate that Rayonier Advanced Materials will post -1.3 earnings per share for the current year.
In related news, CEO Paul G. Boynton purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $3.63 per share, with a total value of $363,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 500,594 shares of the company’s stock, valued at $1,817,156.22. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.09% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its position in shares of Rayonier Advanced Materials by 77.9% in the third quarter. Public Employees Retirement System of Ohio now owns 9,872 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 4,322 shares during the last quarter. Bank of Montreal Can increased its position in shares of Rayonier Advanced Materials by 222.2% in the second quarter. Bank of Montreal Can now owns 7,044 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 4,858 shares during the period. United Services Automobile Association increased its position in shares of Rayonier Advanced Materials by 18.2% in the second quarter. United Services Automobile Association now owns 35,219 shares of the basic materials company’s stock valued at $229,000 after acquiring an additional 5,432 shares during the period. Royal Bank of Canada increased its position in shares of Rayonier Advanced Materials by 56.4% in the second quarter. Royal Bank of Canada now owns 29,043 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 10,469 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Rayonier Advanced Materials by 7.0% in the third quarter. Rhumbline Advisers now owns 164,225 shares of the basic materials company’s stock valued at $711,000 after acquiring an additional 10,690 shares during the period. 71.09% 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, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
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