Lisa Palumbo Sells 1,931 Shares of Rayonier Advanced Materials (NYSE:RYAM) Stock

Rayonier Advanced Materials Inc. (NYSE:RYAM) Director Lisa Palumbo sold 1,931 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $9.13, for a total transaction of $17,630.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Rayonier Advanced Materials Stock Performance

Shares of Rayonier Advanced Materials stock opened at $8.32 on Thursday. The firm’s fifty day simple moving average is $8.25 and its 200-day simple moving average is $9.00. The stock has a market capitalization of $562.76 million, a price-to-earnings ratio of -3.96 and a beta of 1.77. Rayonier Advanced Materials Inc. has a 12 month low of $4.75 and a 12 month high of $11.85. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.37 and a quick ratio of 0.85.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%.The business had revenue of $376.14 million for the quarter, compared to analyst estimates of $362.00 million. As a group, equities analysts forecast that Rayonier Advanced Materials Inc. will post -1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RYAM shares. Royal Bank Of Canada decreased their target price on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Zacks Research raised Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.00.

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of large investors have recently bought and sold shares of RYAM. BlackRock Inc. purchased a new stake in shares of Rayonier Advanced Materials in the second quarter valued at about $37,437,000. Aip LLC purchased a new position in Rayonier Advanced Materials during the second quarter worth about $26,724,000,000. Nantahala Capital Management LLC raised its holdings in Rayonier Advanced Materials by 252.6% during the fourth quarter. Nantahala Capital Management LLC now owns 1,800,000 shares of the basic materials company’s stock worth $10,602,000 after purchasing an additional 1,289,490 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Rayonier Advanced Materials by 26.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,687,949 shares of the basic materials company’s stock valued at $9,942,000 after purchasing an additional 348,589 shares during the period. Finally, Geode Capital Management LLC lifted 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 during the period. 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.