Rayonier Advanced Materials (NYSE:RYAM) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a sell rating to a hold rating in a research note issued to investors on Monday.

Rayonier Advanced Materials Stock Down 5.8 %

Rayonier Advanced Materials stock opened at $3.88 on Monday. Rayonier Advanced Materials has a 52 week low of $2.66 and a 52 week high of $5.76. The business’s 50-day moving average price is $4.29 and its 200 day moving average price is $3.88. The company has a quick ratio of 0.98, a current ratio of 1.53 and a debt-to-equity ratio of 1.01.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, February 27th. The basic materials company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.16). The firm had revenue of $422.00 million during the quarter, compared to analysts’ expectations of $442.40 million. Rayonier Advanced Materials had a negative net margin of 6.15% and a negative return on equity of 6.80%. Sell-side analysts predict that Rayonier Advanced Materials will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sherbrooke Park Advisers LLC purchased a new position in shares of Rayonier Advanced Materials in the third quarter valued at approximately $46,000. Bleakley Financial Group LLC purchased a new position in Rayonier Advanced Materials during the fourth quarter worth approximately $47,000. Simplicity Solutions LLC purchased a new position in Rayonier Advanced Materials during the fourth quarter worth approximately $47,000. Stratos Wealth Partners LTD. purchased a new position in Rayonier Advanced Materials during the fourth quarter worth approximately $54,000. Finally, Tower Research Capital LLC TRC lifted its position in Rayonier Advanced Materials by 64.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,396 shares of the basic materials company’s stock worth $58,000 after buying an additional 5,633 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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.