Rayonier Advanced Materials (NYSE:RYAM) Trading Up 5.7% – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price objective on Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Rayonier Advanced Materials Price Performance

The company has a market capitalization of $551.55 million, a PE ratio of -6.54 and a beta of 3.02. 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 company’s 50 day simple moving average is $8.07 and its 200 day simple moving average is $7.85.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.06. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. During the same period in the prior year, the company earned ($0.41) earnings per share. As a group, sell-side analysts predict that Rayonier Advanced Materials Inc. will post -0.08 earnings per share for the current year.

Insider Transactions at Rayonier Advanced Materials

In other Rayonier Advanced Materials news, Director Eric Bowen acquired 12,500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $8.04 per share, with a total value of $100,500.00. Following the completion of the acquisition, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $100,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several institutional investors have recently made changes to their positions in RYAM. Quarry LP acquired a new position in Rayonier Advanced Materials during the second quarter worth about $29,000. nVerses Capital LLC raised its position in Rayonier Advanced Materials by 121.9% during the third quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 3,900 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Rayonier Advanced Materials in the second quarter valued at approximately $61,000. Truist Financial Corp purchased a new position in shares of Rayonier Advanced Materials during the 2nd quarter worth approximately $66,000. Finally, Entropy Technologies LP acquired a new position in shares of Rayonier Advanced Materials during the 4th quarter worth approximately $84,000. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

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.