Rayonier Advanced Materials (NYSE:RYAM) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Rayonier Advanced Materials Inc. (NYSE:RYAM) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RYAM shares. Royal Bank of Canada upped their price objective on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of 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 market capitalization of $509.53 million, a price-to-earnings ratio of -6.04 and a beta of 3.00. 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 stock’s fifty day simple moving average is $7.67 and its 200-day simple moving average is $8.02.

Insiders Place Their Bets

In other Rayonier Advanced Materials news, Director Eric Bowen bought 12,500 shares of Rayonier Advanced Materials stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $8.04 per share, for a total transaction of $100,500.00. Following the acquisition, the director now directly owns 12,500 shares in the company, valued at $100,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of hedge funds have recently added to or reduced their stakes in RYAM. PharVision Advisers LLC acquired a new stake in shares of Rayonier Advanced Materials in the 4th quarter valued at $227,000. Squarepoint Ops LLC grew its position in shares of Rayonier Advanced Materials by 62.5% in the 4th quarter. Squarepoint Ops LLC now owns 90,426 shares of the basic materials company’s stock valued at $746,000 after buying an additional 34,777 shares during the last quarter. State of Wyoming grew its position in shares of Rayonier Advanced Materials by 89.8% in the 4th quarter. State of Wyoming now owns 75,327 shares of the basic materials company’s stock valued at $621,000 after buying an additional 35,645 shares during the last quarter. Sherbrooke Park Advisers LLC grew its position in shares of Rayonier Advanced Materials by 145.0% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 27,976 shares of the basic materials company’s stock valued at $231,000 after buying an additional 16,557 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Rayonier Advanced Materials by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 18,030 shares of the basic materials company’s stock valued at $149,000 after buying an additional 5,932 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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.