Rayonier Advanced Materials (NYSE:RYAM) Announces Quarterly Earnings Results

Rayonier Advanced Materials (NYSE:RYAM) posted its quarterly earnings data on Tuesday. The basic materials company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.27), FiscalAI reports. The business had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%.

Rayonier Advanced Materials Trading Down 2.9%

RYAM stock traded down $0.26 during mid-day trading on Tuesday, reaching $8.76. The company had a trading volume of 1,153,039 shares, compared to its average volume of 1,045,515. Rayonier Advanced Materials has a 12 month low of $3.35 and a 12 month high of $11.85. The company has a market capitalization of $590.77 million, a PE ratio of -1.24 and a beta of 1.77. The firm has a 50 day moving average of $8.26 and a 200 day moving average of $8.98. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.37 and a quick ratio of 0.79.

Analyst Ratings Changes

A number of brokerages have commented on RYAM. Royal Bank Of Canada reduced their price target on Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Zacks Research lowered Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $13.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RYAM. Millennium Management LLC increased its holdings in Rayonier Advanced Materials by 38.0% during the first quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock valued at $6,718,000 after buying an additional 321,613 shares during the period. Caxton Associates LLP purchased a new stake in Rayonier Advanced Materials in the first quarter valued at about $248,000. Empowered Funds LLC increased its holdings in shares of Rayonier Advanced Materials by 4.2% during the first quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock valued at $2,139,000 after acquiring an additional 15,071 shares in the last quarter. Geode Capital Management LLC increased its stake in Rayonier Advanced Materials by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock valued at $5,927,000 after purchasing an additional 19,999 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Rayonier Advanced Materials by 923.8% in the 2nd quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock worth $535,000 after acquiring an additional 125,336 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 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.