Rayonier Advanced Materials (NYSE:RYAM) Releases Quarterly Earnings Results, Meets Estimates

Rayonier Advanced Materials (NYSE:RYAM) announced its quarterly earnings data on Tuesday. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07), Zacks reports. Rayonier Advanced Materials had a negative net margin of 29.23% and a negative return on equity of 12.11%.

Rayonier Advanced Materials Trading Down 2.0%

Shares of RYAM traded down $0.13 during midday trading on Tuesday, hitting $6.57. 681,072 shares of the stock were exchanged, compared to its average volume of 643,979. Rayonier Advanced Materials has a 52-week low of $3.35 and a 52-week high of $10.28. The company has a current ratio of 1.45, a quick ratio of 0.83 and a debt-to-equity ratio of 2.10. The stock has a fifty day simple moving average of $6.80 and a 200 day simple moving average of $5.11.

Insider Transactions at Rayonier Advanced Materials

In other news, CEO Delyle W. Bloomquist bought 53,533 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $4.71 per share, for a total transaction of $252,140.43. Following the acquisition, the chief executive officer directly owned 539,557 shares of the company’s stock, valued at $2,541,313.47. The trade was a 11.01% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.41% of the company’s stock.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its stake in shares of Rayonier Advanced Materials by 38.0% during the first quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock worth $6,718,000 after buying an additional 321,613 shares during the period. Geode Capital Management LLC increased its position in shares of Rayonier Advanced Materials by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock valued at $5,927,000 after purchasing an additional 19,999 shares during the last quarter. Empowered Funds LLC increased its position in shares of Rayonier Advanced Materials by 4.2% in the 1st quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock valued at $2,139,000 after purchasing an additional 15,071 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Rayonier Advanced Materials by 30.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 484,043 shares of the basic materials company’s stock valued at $1,864,000 after purchasing an additional 113,414 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Rayonier Advanced Materials by 923.8% during the 2nd quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock worth $535,000 after purchasing an additional 125,336 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on RYAM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. Zacks Research lowered shares of Rayonier Advanced Materials from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, Rayonier Advanced Materials currently has a consensus rating of “Reduce” and a consensus target price of $6.00.

Rayonier Advanced Materials Company Profile

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.