Rayonier Advanced Materials (NYSE:RYAM) Posts Earnings Results, Misses Expectations By $0.08 EPS

Rayonier Advanced Materials (NYSE:RYAM) posted its quarterly earnings results on Tuesday. The basic materials company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08), Zacks reports. Rayonier Advanced Materials had a negative return on equity of 42.27% and a negative net margin of 9.53%.The company had revenue of $376.14 million during the quarter, compared to the consensus estimate of $362.00 million.

Rayonier Advanced Materials Stock Down 4.2%

NYSE:RYAM traded down $0.41 during trading hours on Thursday, reaching $9.27. The company’s stock had a trading volume of 818,915 shares, compared to its average volume of 1,054,877. Rayonier Advanced Materials has a 12 month low of $4.01 and a 12 month high of $11.85. The stock has a 50 day moving average price of $8.26 and a two-hundred day moving average price of $8.99. The company has a market capitalization of $624.83 million, a P/E ratio of -4.41 and a beta of 1.77. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37.

Institutional Trading of Rayonier Advanced Materials

Several hedge funds have recently modified their holdings of RYAM. Osaic Holdings Inc. raised its stake 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 acquiring an additional 7,031 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in Rayonier Advanced Materials in the fourth quarter valued at approximately $76,000. Dynamic Technology Lab Private Ltd purchased a new position in Rayonier Advanced Materials in the fourth quarter worth $86,000. Balyasny Asset Management L.P. acquired a new position in shares of Rayonier Advanced Materials during the fourth quarter worth $117,000. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of Rayonier Advanced Materials by 39.5% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 5,721 shares in the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RYAM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. Royal Bank Of Canada lowered their target price on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Zacks Research lowered Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Rayonier Advanced Materials currently has an average rating of “Reduce” and an average price target of $13.00.

About Rayonier Advanced Materials

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.