Rayonier Advanced Materials (NYSE:RYAM) Trading 5.7% Higher – What’s Next?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) were up 5.7% during mid-day trading on Wednesday . The company traded as high as $8.55 and last traded at $8.53. Approximately 162,554 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 355,773 shares. The stock had previously closed at $8.07.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RYAM shares. Royal Bank of Canada raised their target price on Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com lowered Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

Rayonier Advanced Materials Price Performance

The stock has a 50 day simple moving average of $8.04 and a two-hundred day simple moving average of $7.86. The firm has a market cap of $526.70 million, a PE ratio of -6.24 and a beta of 3.02. 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 announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $412.20 million. During the same quarter in the previous year, the business earned ($0.41) EPS. Sell-side analysts expect that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Insider Activity at Rayonier Advanced Materials

In other news, Director Eric Bowen acquired 12,500 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $8.04 per share, for a total transaction of $100,500.00. Following the acquisition, the director now owns 12,500 shares in the company, valued at approximately $100,500. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $29,000. nVerses Capital LLC boosted its holdings in shares of Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 3,900 shares during the last quarter. Entropy Technologies LP purchased a new position in Rayonier Advanced Materials in the fourth quarter worth approximately $84,000. Truist Financial Corp acquired a new position in Rayonier Advanced Materials during the second quarter worth $66,000. Finally, Intech Investment Management LLC acquired a new position in Rayonier Advanced Materials during the third quarter worth $139,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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.