Rayonier Advanced Materials (NYSE:RYAM) Reaches New 12-Month High – Here’s What Happened

Rayonier Advanced Materials Inc. (NYSE:RYAM) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.78 and last traded at $11.7450, with a volume of 443660 shares. The stock had previously closed at $11.45.

Analyst Ratings Changes

RYAM has been the subject of a number of recent analyst reports. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Royal Bank Of Canada lifted their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given 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 Up 3.1%

The stock’s 50-day moving average price is $8.68 and its two-hundred day moving average price is $7.25. The stock has a market capitalization of $791.01 million, a PE ratio of -1.87 and a beta of 2.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.92 and a current ratio of 1.58.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of Rayonier Advanced Materials by 6.1% during the third quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company’s stock valued at $19,646,000 after acquiring an additional 155,268 shares in the last quarter. LSV Asset Management boosted its stake in Rayonier Advanced Materials by 49.5% in the 2nd quarter. LSV Asset Management now owns 182,100 shares of the basic materials company’s stock worth $701,000 after purchasing an additional 60,300 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Rayonier Advanced Materials by 40.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 346,635 shares of the basic materials company’s stock valued at $2,503,000 after purchasing an additional 99,482 shares during the last quarter. Wellspring Financial Advisors LLC increased its stake in Rayonier Advanced Materials by 13.3% during the 2nd quarter. Wellspring Financial Advisors LLC now owns 139,950 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 16,429 shares in the last quarter. Finally, Next Capital Management LLC purchased a new position in Rayonier Advanced Materials in the third quarter worth about $478,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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.