Rayonier Advanced Materials (NYSE:RYAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “

Several other brokerages have also recently weighed in on RYAM. ValuEngine cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Berenberg Bank initiated coverage on shares of Rayonier Advanced Materials in a research note on Thursday, July 12th. They issued a “buy” rating and a $25.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $23.00.

Shares of Rayonier Advanced Materials stock traded up $0.10 during trading on Wednesday, hitting $21.33. The company’s stock had a trading volume of 1,358 shares, compared to its average volume of 829,021. The company has a quick ratio of 1.15, a current ratio of 2.17 and a debt-to-equity ratio of 1.64. Rayonier Advanced Materials has a 52 week low of $13.31 and a 52 week high of $22.96. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 0.46 and a beta of 3.45.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.07. Rayonier Advanced Materials had a net margin of 23.97% and a return on equity of 17.08%. The company had revenue of $542.00 million for the quarter, compared to analysts’ expectations of $544.22 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Rayonier Advanced Materials’s revenue for the quarter was up 169.7% on a year-over-year basis. equities analysts anticipate that Rayonier Advanced Materials will post 2.17 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in shares of Rayonier Advanced Materials by 3.7% during the first quarter. Rhumbline Advisers now owns 117,478 shares of the basic materials company’s stock valued at $2,522,000 after acquiring an additional 4,234 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Rayonier Advanced Materials by 12.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 449,242 shares of the basic materials company’s stock valued at $9,646,000 after acquiring an additional 49,374 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Rayonier Advanced Materials by 13.1% during the first quarter. Eagle Asset Management Inc. now owns 343,533 shares of the basic materials company’s stock valued at $7,375,000 after acquiring an additional 39,676 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Rayonier Advanced Materials by 6.8% during the first quarter. Northern Trust Corp now owns 907,539 shares of the basic materials company’s stock valued at $19,485,000 after acquiring an additional 57,563 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Rayonier Advanced Materials by 5.6% during the first quarter. BlackRock Inc. now owns 6,560,941 shares of the basic materials company’s stock valued at $140,865,000 after acquiring an additional 346,575 shares during the last quarter. 98.76% of the stock is currently owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, and Pulp & Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.

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