Rayonier Advanced Materials (NYSE:RYAM) Releases Earnings Results, Misses Estimates By $0.08 EPS

Rayonier Advanced Materials (NYSE:RYAM) posted its quarterly earnings data on Tuesday. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08), Zacks reports. The firm 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 Up 9.0%

RYAM stock traded up $0.79 during trading on Wednesday, hitting $9.55. 611,559 shares of the company traded hands, compared to its average volume of 1,041,010. The company has a 50-day moving average of $8.25 and a 200-day moving average of $8.98. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.79 and a current ratio of 1.37. Rayonier Advanced Materials has a 1 year low of $3.35 and a 1 year high of $11.85. The firm has a market capitalization of $644.04 million, a PE ratio of -1.35 and a beta of 1.77.

Institutional Trading of Rayonier Advanced Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its holdings in shares of Rayonier Advanced Materials by 754.4% in the second quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 7,031 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Rayonier Advanced Materials during the 4th quarter valued at $76,000. Dynamic Technology Lab Private Ltd purchased a new stake in Rayonier Advanced Materials during the 4th quarter valued at $86,000. Balyasny Asset Management L.P. bought a new stake in Rayonier Advanced Materials in the 4th quarter worth $117,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Rayonier Advanced Materials by 39.5% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 5,721 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RYAM shares. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. Zacks Research cut shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada decreased their target price on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $13.00.

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.