Rayonier Advanced Materials (NYSE:RYAM) Stock Price Passes Above Fifty Day Moving Average - Here's Why

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report)'s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $7.67 and traded as high as $7.78. Rayonier Advanced Materials shares last traded at $7.73, with a volume of 443,151 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RYAM shares. Royal Bank of Canada boosted their price target on Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. StockNews.com raised Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a report on Monday, February 3rd.

Rayonier Advanced Materials Stock Performance

The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $499.97 million, a PE ratio of -5.93 and a beta of 2.99. The stock's 50 day moving average price is $7.68 and its two-hundred day moving average price is $8.04.

Insider Transactions at Rayonier Advanced Materials

In other news, Director Eric Bowen acquired 12,500 shares of Rayonier Advanced Materials stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $8.04 per share, with a total value of $100,500.00. Following the completion of the purchase, the director now owns 12,500 shares of the company's stock, valued at approximately $100,500. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.14% of the company's stock.

Hedge Funds Weigh In On Rayonier Advanced Materials

Institutional investors have recently added to or reduced their stakes in the business. Ieq Capital LLC acquired a new position in Rayonier Advanced Materials in the fourth quarter valued at $83,000. Entropy Technologies LP purchased a new position in Rayonier Advanced Materials in the 4th quarter valued at about $84,000. Townsquare Capital LLC acquired a new stake in shares of Rayonier Advanced Materials during the fourth quarter valued at about $85,000. Walleye Capital LLC purchased a new stake in shares of Rayonier Advanced Materials during the fourth quarter worth about $113,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Rayonier Advanced Materials by 36.6% in the fourth quarter. Hsbc Holdings PLC now owns 14,367 shares of the basic materials company's stock worth $117,000 after acquiring an additional 3,852 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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.