StockNews.com Upgrades Rayonier Advanced Materials (NYSE:RYAM) to “Hold”

Rayonier Advanced Materials (NYSE:RYAM) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Rayonier Advanced Materials Stock Down 2.4 %

RYAM traded down $0.10 during trading on Monday, reaching $4.20. The company had a trading volume of 445,769 shares, compared to its average volume of 512,323. The company has a market cap of $274.94 million, a P/E ratio of -2.67 and a beta of 3.03. Rayonier Advanced Materials has a 12 month low of $2.66 and a 12 month high of $5.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.53 and a quick ratio of 0.98. The business’s fifty day moving average price is $4.32 and its 200 day moving average price is $3.87.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, February 27th. The basic materials company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.16). The firm had revenue of $422.00 million during the quarter, compared to analyst estimates of $442.40 million. Rayonier Advanced Materials had a negative net margin of 6.15% and a negative return on equity of 6.80%. Equities analysts anticipate that Rayonier Advanced Materials will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in Rayonier Advanced Materials by 16.0% during the third quarter. Acadian Asset Management LLC now owns 2,024,339 shares of the basic materials company’s stock worth $7,164,000 after buying an additional 278,760 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Rayonier Advanced Materials by 148.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,985,218 shares of the basic materials company’s stock valued at $7,028,000 after purchasing an additional 1,185,632 shares during the last quarter. CastleKnight Management LP boosted its position in Rayonier Advanced Materials by 1,036.0% during the fourth quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock worth $7,950,000 after purchasing an additional 1,790,257 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Rayonier Advanced Materials by 22.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,108,445 shares of the basic materials company’s stock valued at $3,924,000 after purchasing an additional 206,400 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Rayonier Advanced Materials by 54.5% in the third quarter. GSA Capital Partners LLP now owns 472,579 shares of the basic materials company’s stock valued at $1,673,000 after purchasing an additional 166,722 shares during the period. 68.64% of the stock is owned by institutional investors.

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.