Lisa Palumbo Sells 1,931 Shares of Rayonier Advanced Materials (NYSE:RYAM) Stock

Rayonier Advanced Materials Inc. (NYSE:RYAM) Director Lisa Palumbo sold 1,931 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $9.13, for a total value of $17,630.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rayonier Advanced Materials Price Performance

NYSE RYAM traded down $0.06 on Tuesday, reaching $8.71. 718,388 shares of the company’s stock traded hands, compared to its average volume of 1,038,335. The stock has a market cap of $589.21 million, a PE ratio of -4.15 and a beta of 1.77. Rayonier Advanced Materials Inc. has a 12 month low of $4.39 and a 12 month high of $11.85. The stock has a 50-day simple moving average of $8.26 and a 200 day simple moving average of $9.00. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.37 and a quick ratio of 0.85.

Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%.The business had revenue of $376.14 million during the quarter, compared to the consensus estimate of $362.00 million. As a group, research analysts predict that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several hedge funds and other institutional investors have recently modified their holdings of RYAM. Aip LLC purchased a new stake in shares of Rayonier Advanced Materials during the second quarter worth about $26,724,000,000. BOK Financial Private Wealth Inc. purchased a new position in Rayonier Advanced Materials during the 2nd quarter valued at about $37,000. BlackRock Inc. bought a new position in Rayonier Advanced Materials during the 2nd quarter valued at approximately $37,437,000. Deutsche Bank AG bought a new position in Rayonier Advanced Materials during the 2nd quarter valued at approximately $1,285,000. Finally, Bank of New York Mellon Corp purchased a new stake in Rayonier Advanced Materials in the 2nd quarter worth approximately $1,542,000. 68.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RYAM. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Zacks Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Royal Bank Of Canada reduced their price target on 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rayonier Advanced Materials has an average rating of “Hold” and a consensus price target of $13.00.

Rayonier Advanced Materials Company Profile

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.