Rayonier Advanced Materials (NYSE:RYAM) Stock Price Down 3.9% – Here’s Why

Rayonier Advanced Materials Inc. (NYSE:RYAM) was down 3.9% on Friday . The company traded as low as $7.97 and last traded at $7.99. Approximately 272,523 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 318,908 shares. The stock had previously closed at $8.31.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com downgraded Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Royal Bank of Canada boosted their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Rayonier Advanced Materials Stock Down 3.5 %

The company has a market capitalization of $528.65 million, a PE ratio of -6.27 and a beta of 3.01. The business has a 50-day moving average of $8.45 and a 200 day moving average of $7.53. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. The business had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. During the same quarter last year, the business earned ($0.41) earnings per share. Equities research analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Insider Activity at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, Director Eric Bowen purchased 12,500 shares of Rayonier Advanced Materials stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $8.04 per share, for a total transaction of $100,500.00. Following the completion of the acquisition, the director now owns 12,500 shares in the company, valued at $100,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in Rayonier Advanced Materials during the 2nd quarter valued at $29,000. nVerses Capital LLC increased its stake in shares of Rayonier Advanced Materials by 121.9% during the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock valued at $61,000 after buying an additional 3,900 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $61,000. Truist Financial Corp bought a new position in Rayonier Advanced Materials during the 2nd quarter worth about $66,000. Finally, Intech Investment Management LLC purchased a new position in Rayonier Advanced Materials during the 3rd quarter valued at about $139,000. Hedge funds and other 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.