Rayonier Advanced Materials (NYSE:RYAM) Sees Strong Trading Volume – Here’s Why

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) saw unusually-strong trading volume on Monday . Approximately 1,913,862 shares traded hands during trading, an increase of 86% from the previous session’s volume of 1,027,140 shares.The stock last traded at $8.9060 and had previously closed at $10.21.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RYAM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Royal Bank Of Canada upped their price target on Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.00.

Rayonier Advanced Materials Stock Performance

The company has a debt-to-equity ratio of 2.39, a current ratio of 1.58 and a quick ratio of 0.92. The business has a 50-day simple moving average of $9.83 and a 200 day simple moving average of $7.92. The firm has a market cap of $602.84 million, a PE ratio of -1.41 and a beta of 2.03.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.19). The company had revenue of $417.55 million during the quarter, compared to analysts’ expectations of $364.07 million. Rayonier Advanced Materials had a negative return on equity of 19.70% and a negative net margin of 28.65%. Equities research analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Institutional Trading of Rayonier Advanced Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of RYAM. Millennium Management LLC increased its position in Rayonier Advanced Materials by 38.0% in the first quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock worth $6,718,000 after buying an additional 321,613 shares in the last quarter. Caxton Associates LLP purchased a new stake in Rayonier Advanced Materials in the first quarter worth about $248,000. Empowered Funds LLC increased its position in Rayonier Advanced Materials by 4.2% in the first quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock worth $2,139,000 after buying an additional 15,071 shares in the last quarter. Geode Capital Management LLC increased 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 worth $5,927,000 after buying an additional 19,999 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Rayonier Advanced Materials by 923.8% in the second quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock worth $535,000 after buying 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 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.