Rayonier Advanced Materials (NYSE:RYAM) Stock Price Down 7.4% – Here’s Why

Rayonier Advanced Materials Inc. (NYSE:RYAM) shares fell 7.4% during mid-day trading on Tuesday . The stock traded as low as $8.08 and last traded at $8.0790. 223,835 shares traded hands during trading, a decline of 77% from the average session volume of 991,748 shares. The stock had previously closed at $8.72.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RYAM shares. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rayonier Advanced Materials has an average rating of “Hold” and a consensus price target of $6.00.

Rayonier Advanced Materials Stock Performance

The firm has a market cap of $536.55 million, a price-to-earnings ratio of -1.28 and a beta of 2.20. The stock’s fifty day moving average is $6.39 and its two-hundred day moving average is $6.01. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.89 and a current ratio of 1.57.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, November 4th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). Rayonier Advanced Materials had a negative net margin of 28.21% and a negative return on equity of 13.64%. The firm had revenue of $352.84 million during the quarter, compared to analyst estimates of $373.70 million. On average, analysts expect that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

Several hedge funds have recently added to or reduced their stakes in RYAM. Tactive Advisors LLC grew its stake in shares of Rayonier Advanced Materials by 18.0% in the fourth quarter. Tactive Advisors LLC now owns 13,325 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 2,032 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Rayonier Advanced Materials by 2.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 144,165 shares of the basic materials company’s stock valued at $555,000 after buying an additional 3,382 shares during the period. Covestor Ltd increased its stake in Rayonier Advanced Materials by 46.7% during the 3rd quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock valued at $82,000 after buying an additional 3,636 shares during the period. Osaic Holdings Inc. raised its position in shares of Rayonier Advanced Materials by 754.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after buying an additional 7,031 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in shares of Rayonier Advanced Materials by 3.7% in the second quarter. Horizon Kinetics Asset Management LLC now owns 223,500 shares of the basic materials company’s stock valued at $860,000 after acquiring an additional 8,000 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Company Profile

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.