Insider Selling: Rayonier Advanced Materials (NYSE:RYAM) Director Sells $17,630.03 in Stock

Rayonier Advanced Materials Inc. (NYSE:RYAMGet Free Report) Director Lisa Palumbo sold 1,931 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $9.13, for a total value of $17,630.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Rayonier Advanced Materials Price Performance

NYSE RYAM traded down $0.06 during trading hours on Tuesday, hitting $8.71. The company had a trading volume of 718,388 shares, compared to its average volume of 1,038,335. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.85 and a current ratio of 1.37. The firm has a market capitalization of $589.21 million, a price-to-earnings ratio of -4.15 and a beta of 1.77. Rayonier Advanced Materials Inc. has a 52 week low of $4.39 and a 52 week high of $11.85. The firm has a 50 day simple moving average of $8.26 and a 200 day simple moving average of $9.00.

Rayonier Advanced Materials (NYSE:RYAMGet Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.08). Rayonier Advanced Materials had a negative net margin of 9.53% and a negative return on equity of 46.19%. The company had revenue of $376.14 million for the quarter, compared to the consensus estimate of $362.00 million. Equities research analysts expect that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Institutional investors have recently made changes to their positions in the stock. Irenic Capital Management LP purchased a new position in Rayonier Advanced Materials in the first quarter worth $15,013,000. Lazard Asset Management LLC purchased a new stake in Rayonier Advanced Materials during the first quarter valued at about $2,150,000. SummitTX Capital L.P. purchased a new stake in Rayonier Advanced Materials during the first quarter valued at about $2,341,000. Waverly Advisors LLC bought a new stake in Rayonier Advanced Materials during the first quarter worth about $1,298,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Rayonier Advanced Materials by 83.7% in the 4th quarter. GSA Capital Partners LLP now owns 342,135 shares of the basic materials company’s stock worth $2,015,000 after purchasing an additional 155,902 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RYAM. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Royal Bank Of Canada lowered their price objective on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

Check Out Our Latest Research Report on Rayonier Advanced Materials

About Rayonier Advanced Materials

(Get Free Report)

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.

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