Rayonier Advanced Materials (NYSE:RYAM) Releases Quarterly Earnings Results

Key Points

• Rayonier Advanced Materials reported a quarterly earnings loss of ($0.43) EPS, missing expectations by ($0.23).
• The company's stock increased by 2.7%, closing at $3.83 amid a trading volume of 474,025 shares.
• CEO Delyle W. Bloomquist made a significant insider purchase of 63,291 shares, increasing his ownership in the company.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) announced its quarterly earnings data on Tuesday. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.23), Zacks reports. The firm had revenue of $340.00 million during the quarter, compared to analysts' expectations of $387.07 million. Rayonier Advanced Materials had a negative return on equity of 10.54% and a negative net margin of 29.23%.

Rayonier Advanced Materials Trading Up 13.0%

NYSE:RYAM traded up $0.50 on Thursday, reaching $4.36. The company's stock had a trading volume of 1,369,377 shares, compared to its average volume of 538,825. The company has a quick ratio of 0.89, a current ratio of 1.41 and a debt-to-equity ratio of 1.03. The firm has a market cap of $291.29 million, a price-to-earnings ratio of -0.65 and a beta of 2.49. Rayonier Advanced Materials has a 12-month low of $3.35 and a 12-month high of $10.28. The stock has a 50 day moving average price of $4.02 and a 200 day moving average price of $5.14.

Insider Activity

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist acquired 63,291 shares of the stock in a transaction dated Friday, May 16th. The stock was acquired at an average cost of $3.95 per share, with a total value of $249,999.45. Following the transaction, the chief executive officer owned 486,024 shares in the company, valued at $1,919,794.80. The trade was a 14.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.41% of the company's stock.

Hedge Funds Weigh In On Rayonier Advanced Materials

Large investors have recently modified their holdings of the business. Millennium Management LLC raised its position in Rayonier Advanced Materials by 38.0% in the first quarter. Millennium Management LLC now owns 1,168,291 shares of the basic materials company's stock valued at $6,718,000 after purchasing an additional 321,613 shares during the period. Empowered Funds LLC boosted its stake in Rayonier Advanced Materials by 4.2% in the first quarter. Empowered Funds LLC now owns 372,031 shares of the basic materials company's stock valued at $2,139,000 after acquiring an additional 15,071 shares during the period. Finally, Caxton Associates LLP acquired a new position in Rayonier Advanced Materials in the first quarter valued at approximately $248,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen lowered Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Royal Bank Of Canada lowered their price objective on Rayonier Advanced Materials from $9.00 to $6.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th.

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.