Rayonier Advanced Materials (NYSE:RYAM) Stock Price Down 7.4% – What’s Next?

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s stock price dropped 7.4% during trading on Tuesday . The company traded as low as $8.08 and last traded at $8.0790. Approximately 223,835 shares changed hands during trading, a decline of 77% from the average daily volume of 991,748 shares. The stock had previously closed at $8.72.

Analysts Set New Price Targets

RYAM has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Wednesday, October 8th. Zacks Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rayonier Advanced Materials presently has an average rating of “Hold” and a consensus price target of $6.00.

Rayonier Advanced Materials Trading Down 1.4%

The company has a market capitalization of $575.62 million, a PE ratio of -1.37 and a beta of 2.20. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.57 and a quick ratio of 0.89. The company’s fifty day moving average is $6.54 and its 200-day moving average is $6.07.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, November 4th. The basic materials company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Rayonier Advanced Materials had a negative return on equity of 13.64% and a negative net margin of 28.21%.The company had revenue of $352.84 million during the quarter, compared to analyst estimates of $373.70 million. On average, analysts anticipate that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in shares of Rayonier Advanced Materials by 6.1% during the third quarter. American Century Companies Inc. now owns 2,721,075 shares of the basic materials company’s stock valued at $19,646,000 after buying an additional 155,268 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Rayonier Advanced Materials by 2.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,557,852 shares of the basic materials company’s stock worth $5,996,000 after acquiring an additional 36,298 shares in the last quarter. Geode Capital Management LLC lifted its position in Rayonier Advanced Materials by 1.3% during the second quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock valued at $5,927,000 after acquiring an additional 19,999 shares during the last quarter. Millennium Management LLC lifted its position in Rayonier Advanced Materials by 177.3% during the third quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock valued at $9,817,000 after acquiring an additional 869,486 shares during the last quarter. Finally, UBS Group AG lifted its position in Rayonier Advanced Materials by 156.9% during the third quarter. UBS Group AG now owns 783,465 shares of the basic materials company’s stock valued at $5,657,000 after acquiring an additional 478,500 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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.