Rayonier Advanced Materials (NYSE:RYAM) Posts Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Rayonier Advanced Materials (NYSE:RYAM) released its quarterly earnings data on Tuesday. The basic materials company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.19), Zacks reports. The firm had revenue of $417.00 million during the quarter, compared to the consensus estimate of $364.07 million. Rayonier Advanced Materials had a negative net margin of 28.21% and a negative return on equity of 13.64%.

Rayonier Advanced Materials Stock Down 2.0%

RYAM stock opened at $9.37 on Wednesday. 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 stock has a market capitalization of $627.88 million, a P/E ratio of -1.50 and a beta of 2.14. The business has a 50-day moving average of $7.81 and a 200-day moving average of $6.89. Rayonier Advanced Materials has a fifty-two week low of $3.35 and a fifty-two week high of $10.45.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC raised its holdings in shares of Rayonier Advanced Materials by 252.6% in the fourth quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock valued at $10,602,000 after purchasing an additional 1,289,490 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rayonier Advanced Materials by 26.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company’s stock worth $9,942,000 after purchasing an additional 348,589 shares during the last quarter. Geode Capital Management LLC grew its position in Rayonier Advanced Materials by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,548,346 shares of the basic materials company’s stock valued at $9,122,000 after purchasing an additional 9,234 shares in the last quarter. Millennium Management LLC increased its stake in Rayonier Advanced Materials by 177.3% in the 3rd quarter. Millennium Management LLC now owns 1,359,752 shares of the basic materials company’s stock valued at $9,817,000 after buying an additional 869,486 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Rayonier Advanced Materials by 62.8% during the 4th quarter. JPMorgan Chase & Co. now owns 968,757 shares of the basic materials company’s stock worth $5,706,000 after buying an additional 373,522 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RYAM. Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rayonier Advanced Materials has a consensus rating of “Hold” and a consensus target price of $6.00.

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.