Rayonier Advanced Materials (NYSE:RYAM) Issues Quarterly Earnings Results

Rayonier Advanced Materials (NYSE:RYAM) announced its quarterly earnings results on Tuesday. The basic materials company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07), Zacks reports. Rayonier Advanced Materials had a negative net margin of 29.23% and a negative return on equity of 12.11%.

Rayonier Advanced Materials Stock Down 2.0%

RYAM stock traded down $0.13 during trading on Tuesday, hitting $6.57. The company had a trading volume of 681,072 shares, compared to its average volume of 643,979. The firm has a 50-day moving average price of $6.80 and a 200-day moving average price of $5.11. Rayonier Advanced Materials has a 1-year low of $3.35 and a 1-year high of $10.28. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.83 and a current ratio of 1.45.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RYAM. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. Zacks Research downgraded shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $6.00.

Insider Activity at Rayonier Advanced Materials

In related news, CEO Delyle W. Bloomquist purchased 53,533 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $4.71 per share, with a total value of $252,140.43. Following the completion of the acquisition, the chief executive officer directly owned 539,557 shares in the company, valued at $2,541,313.47. This trade represents a 11.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 4.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of large investors have recently bought and sold shares of RYAM. Millennium Management LLC lifted its stake in shares of Rayonier Advanced Materials by 38.0% in the 1st quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock worth $6,718,000 after acquiring an additional 321,613 shares during the period. Caxton Associates LLP purchased a new position in Rayonier Advanced Materials during the first quarter worth about $248,000. Empowered Funds LLC raised its holdings in Rayonier Advanced Materials by 4.2% during the first quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock worth $2,139,000 after purchasing an additional 15,071 shares in the last quarter. Geode Capital Management LLC lifted its position in Rayonier Advanced Materials by 1.3% in the second quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock valued at $5,927,000 after purchasing an additional 19,999 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Rayonier Advanced Materials by 923.8% in the 2nd quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock valued at $535,000 after purchasing an additional 125,336 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

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.