Rayonier Advanced Materials Inc (NYSE:RYAM) CEO Paul G. Boynton bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were bought at an average price of $3.63 per share, for a total transaction of $363,000.00. Following the transaction, the chief executive officer now directly owns 500,594 shares in the company, valued at $1,817,156.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of RYAM stock opened at $4.35 on Friday. The firm has a market capitalization of $174.97 million, a PE ratio of 2.57 and a beta of 3.78. The firm has a fifty day simple moving average of $4.28 and a two-hundred day simple moving average of $5.94. The company has a current ratio of 2.15, a quick ratio of 1.09 and a debt-to-equity ratio of 1.90. Rayonier Advanced Materials Inc has a 12 month low of $2.50 and a 12 month high of $15.66.
Rayonier Advanced Materials (NYSE:RYAM) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.16). The business had revenue of $416.00 million for the quarter, compared to the consensus estimate of $471.24 million. Rayonier Advanced Materials had a negative net margin of 1.99% and a negative return on equity of 5.65%. The business’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. On average, equities analysts predict that Rayonier Advanced Materials Inc will post -0.95 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of RYAM. Denali Advisors LLC bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth $78,000. WINTON GROUP Ltd bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth $708,000. First Citizens Bank & Trust Co. bought a new stake in shares of Rayonier Advanced Materials in the 2nd quarter worth $73,000. Nisa Investment Advisors LLC grew its stake in shares of Rayonier Advanced Materials by 3,636.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,330 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 12,000 shares in the last quarter. Finally, First Hawaiian Bank grew its stake in shares of Rayonier Advanced Materials by 88.6% in the 2nd quarter. First Hawaiian Bank now owns 23,730 shares of the basic materials company’s stock worth $154,000 after acquiring an additional 11,150 shares in the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.
RYAM has been the topic of a number of research reports. Berenberg Bank downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating and dropped their target price for the company from $15.00 to $5.00 in a research report on Wednesday, October 16th. Royal Bank of Canada set a $10.00 target price on shares of Rayonier Advanced Materials and gave the company a “buy” rating in a research report on Friday, August 9th. ValuEngine upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America lowered shares of Rayonier Advanced Materials from a “buy” rating to an “underperform” rating in a research note on Thursday, August 8th. Finally, Sidoti lowered shares of Rayonier Advanced Materials from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.50.
About Rayonier Advanced Materials
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.
Further Reading: Average Daily Trade Volume – ADTV
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