Rayonier Advanced Materials (NYSE:RYAM) Share Price Crosses Above 50-Day Moving Average of $4.22

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $4.22 and traded as high as $4.35. Rayonier Advanced Materials shares last traded at $4.08, with a volume of 939,107 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a report on Monday, April 22nd.

Rayonier Advanced Materials Stock Up 9.2 %

The firm has a market cap of $291.33 million, a price-to-earnings ratio of -2.83 and a beta of 3.05. The firm has a fifty day simple moving average of $4.24 and a 200-day simple moving average of $3.95. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.98 and a current ratio of 1.53.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last announced its earnings results on Tuesday, February 27th. The basic materials company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.16). The company had revenue of $422.00 million for the quarter, compared to the consensus estimate of $442.40 million. Rayonier Advanced Materials had a negative return on equity of 6.80% and a negative net margin of 6.15%. As a group, sell-side analysts expect that Rayonier Advanced Materials Inc. will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in Rayonier Advanced Materials by 16.0% in the 3rd quarter. Acadian Asset Management LLC now owns 2,024,339 shares of the basic materials company's stock valued at $7,164,000 after acquiring an additional 278,760 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Rayonier Advanced Materials by 471.8% during the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company's stock worth $9,548,000 after purchasing an additional 1,648,101 shares during the period. AQR Capital Management LLC lifted its position in Rayonier Advanced Materials by 148.3% during the third quarter. AQR Capital Management LLC now owns 1,985,218 shares of the basic materials company's stock worth $7,028,000 after purchasing an additional 1,185,632 shares during the period. CastleKnight Management LP grew its stake in Rayonier Advanced Materials by 1,036.0% during the fourth quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company's stock worth $7,950,000 after buying an additional 1,790,257 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Rayonier Advanced Materials by 22.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,108,445 shares of the basic materials company's stock valued at $3,924,000 after buying an additional 206,400 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.

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.