Rayonier Advanced Materials (NYSE:RYAM) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a sell rating to a hold rating in a research note released on Monday.

Rayonier Advanced Materials Stock Up 1.5 %

Shares of NYSE:RYAM opened at $4.12 on Monday. Rayonier Advanced Materials has a 1 year low of $2.66 and a 1 year high of $5.76. The company has a market cap of $270.03 million, a PE ratio of -2.62 and a beta of 3.03. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.53 and a quick ratio of 0.98. The stock’s 50-day moving average is $4.30 and its 200 day moving average is $3.88.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Tuesday, February 27th. The basic materials company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.16). Rayonier Advanced Materials had a negative net margin of 6.15% and a negative return on equity of 6.80%. The business had revenue of $422.00 million for the quarter, compared to analysts’ expectations of $442.40 million. Sell-side analysts anticipate that Rayonier Advanced Materials will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RYAM. CastleKnight Management LP grew its holdings in shares of Rayonier Advanced Materials by 1,036.0% during the 4th quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock worth $7,950,000 after acquiring an additional 1,790,257 shares during the period. AQR Capital Management LLC grew its holdings in shares of Rayonier Advanced Materials by 148.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,985,218 shares of the basic materials company’s stock worth $7,028,000 after acquiring an additional 1,185,632 shares during the period. Federated Hermes Inc. purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $1,845,000. Russell Investments Group Ltd. grew its holdings in shares of Rayonier Advanced Materials by 648.6% during the 4th quarter. Russell Investments Group Ltd. now owns 349,336 shares of the basic materials company’s stock worth $1,415,000 after acquiring an additional 302,669 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Rayonier Advanced Materials by 16.0% in the 3rd quarter. Acadian Asset Management LLC now owns 2,024,339 shares of the basic materials company’s stock worth $7,164,000 after buying an additional 278,760 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

About Rayonier Advanced Materials

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.