Rayonier Advanced Materials (NYSE:RYAM) Releases Quarterly Earnings Results, Meets Expectations

Rayonier Advanced Materials (NYSE:RYAM) issued its quarterly earnings data on Tuesday. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07), Zacks reports. The business had revenue of $353.00 million for the quarter, compared to analysts’ expectations of $373.70 million. Rayonier Advanced Materials had a negative return on equity of 12.11% and a negative net margin of 29.23%.

Rayonier Advanced Materials Trading Down 8.0%

Shares of NYSE RYAM traded down $0.53 during trading hours on Wednesday, hitting $6.01. 723,169 shares of the company traded hands, compared to its average volume of 586,042. The stock has a market capitalization of $402.34 million, a price-to-earnings ratio of -0.90 and a beta of 2.67. The company has a current ratio of 1.45, a quick ratio of 0.83 and a debt-to-equity ratio of 2.10. The company’s 50 day moving average price is $6.80 and its 200 day moving average price is $5.11. Rayonier Advanced Materials has a 12 month low of $3.35 and a 12 month high of $10.28.

Insider Buying and Selling at Rayonier Advanced Materials

In related news, CEO Delyle W. Bloomquist bought 53,533 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $4.71 per share, with a total value of $252,140.43. Following the transaction, the chief executive officer owned 539,557 shares in the company, valued at $2,541,313.47. This trade represents a 11.01% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.41% of the company’s stock.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several hedge funds have recently bought and sold shares of RYAM. Millennium Management LLC grew its position in 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 valued at $6,718,000 after acquiring an additional 321,613 shares during the last quarter. Marshall Wace LLP grew its position 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 acquiring an additional 125,336 shares during the last quarter. Qube Research & Technologies Ltd grew its position in Rayonier Advanced Materials by 30.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 484,043 shares of the basic materials company’s stock valued at $1,864,000 after acquiring an additional 113,414 shares during the last quarter. Oxford Asset Management LLP grew its position in Rayonier Advanced Materials by 290.0% in the 2nd quarter. Oxford Asset Management LLP now owns 65,627 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 48,798 shares during the last quarter. Finally, Caxton Associates LLP bought a new position in Rayonier Advanced Materials in the 1st quarter valued at $248,000. Institutional investors own 68.64% of the company’s stock.

Analyst Upgrades and Downgrades

RYAM has been the topic of several recent research reports. Zacks Research cut Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed 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 and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $6.00.

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.