Rayonier Advanced Materials (NYSE:RYAM) Shares Down 5.7% – Here’s What Happened

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price dropped 5.7% during mid-day trading on Thursday. The company traded as low as $7.58 and last traded at $7.5190. Approximately 271,527 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,003,668 shares. The stock had previously closed at $7.97.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Zacks Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada reduced their target price on shares of 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 report on Monday, July 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.00.

Rayonier Advanced Materials Price Performance

The company has a 50 day moving average of $8.57 and a 200 day moving average of $8.92. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 3.83. The stock has a market capitalization of $506.29 million, a price-to-earnings ratio of -3.57 and a beta of 1.76.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The company had revenue of $376.14 million during the quarter, compared to analyst estimates of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%. As a group, equities research analysts forecast that Rayonier Advanced Materials Inc. will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several institutional investors have recently bought and sold shares of RYAM. BOK Financial Private Wealth Inc. acquired a new stake in Rayonier Advanced Materials in the 2nd quarter valued at $37,000. Public Employees Retirement System of Ohio purchased a new position in shares of Rayonier Advanced Materials during the 2nd quarter valued at approximately $41,000. Legal & General Group Plc bought a new position in Rayonier Advanced Materials during the 2nd quarter valued at $48,000. Quantinno Capital Management LP grew its stake in Rayonier Advanced Materials by 10.7% in the first quarter. Quantinno Capital Management LP now owns 89,211 shares of the basic materials company’s stock worth $988,000 after purchasing an additional 8,596 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Rayonier Advanced Materials by 10.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 145,756 shares of the basic materials company’s stock valued at $1,614,000 after acquiring an additional 13,861 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc (NYSE:RYAM) is a specialty materials company that develops and manufactures cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, viscose pulp and other engineered biomaterials.

The company’s products are used in a range of applications, including pharmaceutical and food ingredients, cigarette filters, liquid-crystal displays, paints and coatings, textiles, tire and rubber products, personal care items and other specialty materials.