Rayonier Advanced Materials (NYSE:RYAM) Stock Price Down 3.9% - Should You Sell?

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) were down 3.9% during mid-day trading on Friday . The stock traded as low as $7.97 and last traded at $7.99. Approximately 272,523 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 318,908 shares. The stock had previously closed at $8.31.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RYAM. Royal Bank of Canada raised their price objective 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 cut Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research report on Friday, December 20th.

Rayonier Advanced Materials Stock Down 2.8 %

The firm's 50-day moving average price is $8.45 and its 200 day moving average price is $7.55. 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 company has a market capitalization of $532.60 million, a price-to-earnings ratio of -6.31 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same period in the previous year, the business earned ($0.41) earnings per share. On average, sell-side analysts forecast that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric Bowen purchased 12,500 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $8.04 per share, with a total value of $100,500.00. Following the acquisition, the director now owns 12,500 shares of the company's stock, valued at $100,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.14% of the stock is owned by corporate insiders.

Institutional Trading of Rayonier Advanced Materials

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its holdings in shares of Rayonier Advanced Materials by 1.8% during the third quarter. Public Employees Retirement System of Ohio now owns 63,054 shares of the basic materials company's stock worth $540,000 after purchasing an additional 1,139 shares during the last quarter. nVerses Capital LLC boosted its position in Rayonier Advanced Materials by 121.9% during the 3rd quarter. nVerses Capital LLC now owns 7,100 shares of the basic materials company's stock worth $61,000 after buying an additional 3,900 shares during the period. Quarry LP bought a new stake in Rayonier Advanced Materials during the 2nd quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV acquired a new position in Rayonier Advanced Materials in the 2nd quarter valued at approximately $61,000. Finally, Truist Financial Corp bought a new position in shares of Rayonier Advanced Materials during the second quarter valued at $66,000. Institutional investors and hedge funds own 68.64% of the company's stock.

Rayonier Advanced Materials Company Profile

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.