Rayonier Advanced Materials (NYSE:RYAM) Now Covered by StockNews.com

StockNews.com started coverage on shares of Rayonier Advanced Materials (NYSE:RYAM – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the basic materials company’s stock.

Separately, Royal Bank of Canada cut shares of Rayonier Advanced Materials from an outperform rating to a sector perform rating and dropped their price objective for the company from $9.00 to $8.00 in a research note on Monday, January 9th.

Rayonier Advanced Materials Stock Down 6.8 %

NYSE:RYAM opened at $6.01 on Thursday. Rayonier Advanced Materials has a one year low of $2.43 and a one year high of $9.84. The company has a fifty day moving average price of $6.96 and a 200 day moving average price of $6.35. The company has a current ratio of 1.95, a quick ratio of 1.20 and a debt-to-equity ratio of 1.01.

Rayonier Advanced Materials (NYSE:RYAM – Get Rating) last released its earnings results on Tuesday, February 28th. The basic materials company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $500.00 million during the quarter. Rayonier Advanced Materials had a negative net margin of 0.82% and a negative return on equity of 2.91%. During the same quarter in the previous year, the company earned ($0.37) earnings per share. As a group, equities research analysts anticipate that Rayonier Advanced Materials will post -0.35 EPS for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of Rayonier Advanced Materials by 23.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,285 shares of the basic materials company’s stock valued at $99,000 after buying an additional 1,965 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its stake in shares of Rayonier Advanced Materials by 1.5% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 131,350 shares of the basic materials company’s stock valued at $414,000 after buying an additional 2,000 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Rayonier Advanced Materials by 18.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 12,728 shares of the basic materials company’s stock valued at $40,000 after buying an additional 2,004 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Rayonier Advanced Materials by 1.7% in the 4th quarter. Legal & General Group Plc now owns 135,658 shares of the basic materials company’s stock valued at $1,302,000 after buying an additional 2,290 shares in the last quarter. Finally, Advisor Partners II LLC raised its stake in shares of Rayonier Advanced Materials by 16.8% in the 4th quarter. Advisor Partners II LLC now owns 17,612 shares of the basic materials company’s stock valued at $169,000 after buying an additional 2,534 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

About Rayonier Advanced Materials

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Rayonier Advanced Materials, Inc engages in the manufacture of high purity cellulose, paperboard, and high-yield pulp products. It operates through the following segments: High Purity Cellulose, Paperboard, and High-Yield Pulp. The High Purity Cellulose segment manufactures and markets high purity cellulose, which is sold as either cellulose specialties or commodity products in the U.S., Canada, and France.