Rayonier Advanced Materials (NYSE:RYAM) Sets New 12-Month High at $8.45

Rayonier Advanced Materials Inc. (NYSE:RYAM) shares hit a new 52-week high on Tuesday . The stock traded as high as $8.45 and last traded at $8.45, with a volume of 258 shares trading hands. The stock had previously closed at $8.02.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RYAM shares. Royal Bank of Canada raised their price target on shares of Rayonier Advanced Materials from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. StockNews.com raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th.

Rayonier Advanced Materials Trading Up 1.5 %

The firm has a market capitalization of $533.79 million, a P/E ratio of -4.98 and a beta of 3.00. The business’s 50-day moving average is $7.09 and its 200 day moving average is $5.64. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. The business had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. During the same period last year, the firm earned ($0.25) earnings per share. As a group, analysts anticipate that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $632,000. Truist Financial Corp acquired a new stake in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $66,000. Quarry LP acquired a new stake in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $29,000. Aristeia Capital L.L.C. boosted its stake in shares of Rayonier Advanced Materials by 338.2% in the 2nd quarter. Aristeia Capital L.L.C. now owns 123,313 shares of the basic materials company’s stock valued at $671,000 after purchasing an additional 95,173 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Rayonier Advanced Materials in the 2nd quarter valued at approximately $178,000. 68.64% of the stock is owned by 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.