Rayonier Advanced Materials (NYSE:RYAM) Sets New 1-Year High – What’s Next?

by · The Markets Daily

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM – Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $8.92 and last traded at $8.90, with a volume of 52901 shares. The stock had previously closed at $8.70.

Wall Street Analyst Weigh In

Several research firms have weighed in on RYAM. StockNews.com raised Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price objective on Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th.

View Our Latest Research Report on Rayonier Advanced Materials

Rayonier Advanced Materials Trading Up 2.8 %

The stock’s fifty day simple moving average is $7.74 and its two-hundred day simple moving average is $6.03. The firm has a market cap of $589.06 million, a PE ratio of -7.57 and a beta of 2.99. The company has a quick ratio of 1.09, a current ratio of 1.69 and a debt-to-equity ratio of 1.00.

Rayonier Advanced Materials (NYSE:RYAM – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.26. Rayonier Advanced Materials had a negative return on equity of 3.96% and a negative net margin of 4.82%. The company had revenue of $419.00 million for the quarter, compared to the consensus estimate of $407.10 million. During the same quarter in the prior year, the business posted ($0.25) EPS. On average, sell-side analysts forecast that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current fiscal year.

Institutional Trading of Rayonier Advanced Materials

A number of institutional investors and hedge funds have recently bought and sold shares of RYAM. Quarry LP bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth $29,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Rayonier Advanced Materials during the second quarter valued at $61,000. Truist Financial Corp bought a new stake in Rayonier Advanced Materials in the 2nd quarter worth about $66,000. EntryPoint Capital LLC purchased a new position in Rayonier Advanced Materials in the 1st quarter worth about $100,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Rayonier Advanced Materials by 4,134.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 27,566 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 26,915 shares during the period. 68.64% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Company Profile

(Get Free Report)

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.

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