Rayonier Advanced Materials (NYSE:RYAM) released its quarterly earnings results on Wednesday. The basic materials company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.17), Briefing.com reports. The firm had revenue of $488.00 million for the quarter, compared to analyst estimates of $497.01 million. Rayonier Advanced Materials had a return on equity of 1.66% and a net margin of 0.69%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share.
NYSE:RYAM traded down $0.10 during mid-day trading on Friday, hitting $2.87. 3,020,778 shares of the stock were exchanged, compared to its average volume of 1,501,947. The stock has a market cap of $249.00 million, a PE ratio of 1.70 and a beta of 3.61. The stock’s 50-day moving average price is $5.39. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.08 and a quick ratio of 1.03. Rayonier Advanced Materials has a fifty-two week low of $2.81 and a fifty-two week high of $22.07.
Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Rayonier Advanced Materials by 14.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 594,869 shares of the basic materials company’s stock valued at $3,861,000 after buying an additional 76,601 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of Rayonier Advanced Materials by 165.6% in the 2nd quarter. Trexquant Investment LP now owns 31,550 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 19,673 shares during the period. Bank of Montreal Can lifted its stake in shares of Rayonier Advanced Materials by 222.2% in the 2nd quarter. Bank of Montreal Can now owns 7,044 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 4,858 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Rayonier Advanced Materials in the 2nd quarter valued at about $32,000. Finally, Prudential Financial Inc. lifted its stake in shares of Rayonier Advanced Materials by 21.2% in the 2nd quarter. Prudential Financial Inc. now owns 1,128,947 shares of the basic materials company’s stock valued at $7,327,000 after purchasing an additional 197,163 shares during the period. 99.75% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on RYAM shares. TheStreet cut Rayonier Advanced Materials from a “b-” rating to a “c” rating in a report on Monday, May 13th. Sidoti cut Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a report on Thursday. Bank of America cut Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a report on Thursday. DA Davidson dropped their price target on Rayonier Advanced Materials to $18.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, ValuEngine raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $19.33.
Rayonier Advanced Materials Company Profile
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, Pulp, and Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.
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