Rayonier Advanced Materials (NYSE:RYAM) Stock Price Up 5.7% – What’s Next?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) traded up 5.7% during trading on Wednesday . The company traded as high as $8.55 and last traded at $8.53. 162,554 shares traded hands during trading, a decline of 54% from the average session volume of 355,773 shares. The stock had previously closed at $8.07.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RYAM shares. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Royal Bank of Canada increased their target price on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

Rayonier Advanced Materials Price Performance

The stock’s fifty day moving average price is $8.07 and its 200-day moving average price is $7.85. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The firm has a market cap of $551.55 million, a PE ratio of -6.54 and a beta of 3.02.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $401.00 million for the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same period last year, the company posted ($0.41) EPS. As a group, equities analysts expect that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rayonier Advanced Materials news, Director Eric Bowen bought 12,500 shares of Rayonier Advanced Materials stock in a transaction on Friday, December 13th. The shares were bought at an average price of $8.04 per share, for a total transaction of $100,500.00. Following the completion of the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at $100,500. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Rayonier Advanced Materials

A number of hedge funds and other institutional investors have recently modified their holdings of RYAM. Quarry LP purchased a new position in Rayonier Advanced Materials during the second quarter worth about $29,000. nVerses Capital LLC boosted its position in shares of Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 3,900 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $61,000. Truist Financial Corp acquired a new stake in Rayonier Advanced Materials in the 2nd quarter valued at approximately $66,000. Finally, Entropy Technologies LP purchased a new stake in Rayonier Advanced Materials in the fourth quarter valued at approximately $84,000. 68.64% of the stock is owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.