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

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Royal Bank of Canada dropped their target price on Rayonier Advanced Materials from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, May 8th.

Rayonier Advanced Materials Trading Down 1.2%

Shares of RYAM stock opened at $3.97 on Thursday. Rayonier Advanced Materials has a 12-month low of $3.45 and a 12-month high of $10.28. The company has a market capitalization of $265.10 million, a PE ratio of -3.10 and a beta of 2.63. The firm has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $6.92. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, May 6th. The basic materials company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.35). Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The firm had revenue of $356.00 million for the quarter, compared to analyst estimates of $375.80 million. As a group, analysts predict that Rayonier Advanced Materials will post -0.08 earnings per share for the current year.

Institutional Trading of Rayonier Advanced Materials

A number of institutional investors have recently bought and sold shares of RYAM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rayonier Advanced Materials by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,631 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 1,596 shares during the period. Savant Capital LLC grew its position in Rayonier Advanced Materials by 7.9% during the fourth quarter. Savant Capital LLC now owns 31,821 shares of the basic materials company’s stock worth $263,000 after buying an additional 2,322 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Rayonier Advanced Materials by 15.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,135 shares of the basic materials company’s stock worth $200,000 after acquiring an additional 3,305 shares during the period. Hsbc Holdings PLC increased its stake in Rayonier Advanced Materials by 36.6% during the 4th quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 3,852 shares during the period. Finally, Rhumbline Advisers raised its holdings in Rayonier Advanced Materials by 3.5% in the 4th quarter. Rhumbline Advisers now owns 131,544 shares of the basic materials company’s stock valued at $1,085,000 after acquiring an additional 4,445 shares in the last quarter. 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.