Rayonier Advanced Materials (NYSE:RYAM) Issues Earnings Results

Rayonier Advanced Materials (NYSE:RYAM) posted its earnings results on Tuesday. The basic materials company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07), Zacks reports. 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 2.0%

Shares of RYAM traded down $0.13 during mid-day trading on Tuesday, reaching $6.57. 681,072 shares of the company were exchanged, compared to its average volume of 643,979. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.83 and a current ratio of 1.45. Rayonier Advanced Materials has a 52 week low of $3.35 and a 52 week high of $10.28. The business has a 50 day simple moving average of $6.80 and a two-hundred day simple moving average of $5.11. The stock has a market capitalization of $439.92 million, a PE ratio of -0.98 and a beta of 2.67.

Insiders Place Their Bets

In other news, CEO Delyle W. Bloomquist purchased 53,533 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $4.71 per share, with a total value of $252,140.43. Following the completion of the transaction, the chief executive officer owned 539,557 shares of the company’s stock, valued at $2,541,313.47. The trade was a 11.01% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RYAM. Osaic Holdings Inc. grew its stake in shares of Rayonier Advanced Materials by 754.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after buying an additional 7,031 shares during the period. Caxton Associates LLP acquired a new position in Rayonier Advanced Materials during the first quarter worth $248,000. Oxford Asset Management LLP grew its holdings in shares of Rayonier Advanced Materials by 290.0% during the second quarter. Oxford Asset Management LLP now owns 65,627 shares of the basic materials company’s stock valued at $253,000 after buying an additional 48,798 shares during the last quarter. State of Wyoming lifted its position in Rayonier Advanced Materials by 28.4% in the 2nd quarter. State of Wyoming now owns 69,557 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 15,389 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Rayonier Advanced Materials by 19.1% in the second quarter. Balyasny Asset Management L.P. now owns 97,964 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 15,731 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RYAM. Zacks Research downgraded Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Rayonier Advanced Materials currently has an average rating of “Reduce” and a consensus price target 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.