Rayonier Advanced Materials (NYSE:RYAM) Stock Price Down 7.4% – Here’s What Happened
by Michael Walen · The Markets DailyRayonier Advanced Materials Inc. (NYSE:RYAM – Get Free Report) shares were down 7.4% on Tuesday . The company traded as low as $8.08 and last traded at $8.0790. Approximately 223,835 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 991,748 shares. The stock had previously closed at $8.72.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. Zacks Research raised shares of Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.
Check Out Our Latest Research Report on RYAM
Rayonier Advanced Materials Price Performance
The stock has a 50-day moving average of $6.39 and a two-hundred day moving average of $6.01. The firm has a market cap of $536.55 million, a price-to-earnings ratio of -1.28 and a beta of 2.20. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 2.26.
Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The basic materials company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). Rayonier Advanced Materials had a negative net margin of 28.21% and a negative return on equity of 13.64%. The company had revenue of $352.84 million during the quarter, compared to analyst estimates of $373.70 million. On average, analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.
Institutional Trading of Rayonier Advanced Materials
Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Rayonier Advanced Materials by 177.3% in the third quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock valued at $9,817,000 after purchasing an additional 869,486 shares in the last quarter. Nantahala Capital Management LLC acquired a new position in Rayonier Advanced Materials during the third quarter valued at $3,686,000. UBS Group AG raised its position in Rayonier Advanced Materials by 156.9% during the third quarter. UBS Group AG now owns 783,465 shares of the basic materials company’s stock valued at $5,657,000 after buying an additional 478,500 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Rayonier Advanced Materials in the 3rd quarter worth about $1,267,000. Finally, American Century Companies Inc. boosted its position in Rayonier Advanced Materials by 6.1% during the 3rd quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company’s stock worth $19,646,000 after acquiring an additional 155,268 shares during the period. 68.64% of the stock is owned by institutional investors and hedge funds.
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.