Rayonier Advanced Materials (NYSE:RYAM) Releases Earnings Results, Misses Expectations By $0.60 EPS

Rayonier Advanced Materials (NYSE:RYAM) announced its quarterly earnings data on Tuesday. The basic materials company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60), Zacks reports. Rayonier Advanced Materials had a negative net margin of 28.65% and a negative return on equity of 19.70%.

Rayonier Advanced Materials Trading Up 3.0%

NYSE RYAM traded up $0.27 during trading on Tuesday, hitting $9.26. The stock had a trading volume of 888,634 shares, compared to its average volume of 1,155,577. The company has a market capitalization of $624.03 million, a PE ratio of -1.47 and a beta of 1.79. The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 2.39. The firm has a 50 day moving average price of $10.11 and a 200 day moving average price of $8.06. Rayonier Advanced Materials has a twelve month low of $3.35 and a twelve month high of $11.85.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several institutional investors have recently bought and sold shares of RYAM. Osaic Holdings Inc. grew its position in Rayonier Advanced Materials by 754.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 7,031 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of Rayonier Advanced Materials in the 4th quarter valued at about $76,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rayonier Advanced Materials in the 4th quarter valued at about $86,000. Balyasny Asset Management L.P. purchased a new position in shares of Rayonier Advanced Materials in the 4th quarter valued at about $117,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Rayonier Advanced Materials by 39.5% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock valued at $119,000 after buying an additional 5,721 shares during the period. 68.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Tuesday, April 21st. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Royal Bank Of Canada raised their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.00.

About Rayonier Advanced Materials

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.