Rayonier Advanced Materials (NYSE:RYAM) Releases Earnings Results, Misses Estimates By $0.60 EPS

Rayonier Advanced Materials (NYSE:RYAM) released its quarterly earnings results on Tuesday. The basic materials company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.60), Zacks reports. Rayonier Advanced Materials had a negative return on equity of 19.70% and a negative net margin of 28.65%.

Rayonier Advanced Materials Stock Up 3.0%

RYAM stock traded up $0.27 during mid-day trading on Tuesday, reaching $9.26. The company had a trading volume of 888,634 shares, compared to its average volume of 1,155,577. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.92 and a current ratio of 1.58. The company has a market capitalization of $624.03 million, a price-to-earnings ratio of -1.47 and a beta of 1.79. The firm has a fifty day simple moving average of $10.11 and a 200 day simple moving average of $8.06. Rayonier Advanced Materials has a fifty-two week low of $3.35 and a fifty-two week high of $11.85.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of hedge funds have recently bought and sold shares of RYAM. Millennium Management LLC raised its position in Rayonier Advanced Materials by 38.0% in the 1st quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company’s stock valued at $6,718,000 after purchasing an additional 321,613 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Rayonier Advanced Materials during the 1st quarter worth about $248,000. Empowered Funds LLC raised its position in shares of Rayonier Advanced Materials by 4.2% during the 1st quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company’s stock worth $2,139,000 after acquiring an additional 15,071 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Rayonier Advanced Materials by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,539,236 shares of the basic materials company’s stock worth $5,927,000 after acquiring an additional 19,999 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Rayonier Advanced Materials by 923.8% during the 2nd quarter. Marshall Wace LLP now owns 138,904 shares of the basic materials company’s stock worth $535,000 after acquiring an additional 125,336 shares in the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RYAM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Tuesday, April 21st. Royal Bank Of Canada increased their price target on Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One equities research 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. According to data from MarketBeat.com, Rayonier Advanced Materials has an average rating of “Hold” and an average price target of $14.00.

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.