Rayonier Advanced Materials (RYAM) Shares Down 7%

Rayonier Advanced Materials Inc (NYSE:RYAM)’s share price was down 7% during mid-day trading on Friday . The stock traded as low as $12.53 and last traded at $12.67. Approximately 508,912 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 576,236 shares. The stock had previously closed at $13.62.

Separately, ValuEngine upgraded Rayonier Advanced Materials from a “strong sell” rating to a “sell” rating in a research report on Friday, January 25th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Rayonier Advanced Materials has a consensus rating of “Hold” and a consensus target price of $21.67.

The stock has a market capitalization of $624.34 million, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 0.61 and a beta of 3.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.93 and a quick ratio of 1.07.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Wednesday, February 13th. The basic materials company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.16). The firm had revenue of $526.00 million for the quarter, compared to the consensus estimate of $541.71 million. Rayonier Advanced Materials had a return on equity of 15.08% and a net margin of 6.05%. The company’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. On average, equities analysts forecast that Rayonier Advanced Materials Inc will post 1.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.21%. Rayonier Advanced Materials’s payout ratio is currently 16.57%.

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of Rayonier Advanced Materials during the third quarter worth $232,000. Canada Pension Plan Investment Board bought a new stake in Rayonier Advanced Materials in the third quarter valued at about $6,301,000. LPL Financial LLC bought a new stake in Rayonier Advanced Materials in the third quarter valued at about $262,000. Alliancebernstein L.P. increased its holdings in Rayonier Advanced Materials by 47.9% in the third quarter. Alliancebernstein L.P. now owns 170,320 shares of the basic materials company’s stock valued at $3,139,000 after purchasing an additional 55,160 shares during the last quarter. Finally, Alambic Investment Management L.P. bought a new stake in Rayonier Advanced Materials in the third quarter valued at about $376,000. Institutional investors own 98.73% of the company’s stock.

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About Rayonier Advanced Materials (NYSE:RYAM)

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.

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