Rayonier Advanced Materials (NYSE:RYAM) Downgraded by StockNews.com to Hold

Rayonier Advanced Materials (NYSE:RYAM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Royal Bank of Canada lowered their price objective on Rayonier Advanced Materials from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday.

Rayonier Advanced Materials Price Performance

Shares of NYSE RYAM traded down $0.49 during midday trading on Monday, reaching $5.50. 758,416 shares of the company traded hands, compared to its average volume of 490,931. The firm has a market cap of $362.21 million, a PE ratio of -4.29 and a beta of 3.02. The stock’s 50-day simple moving average is $7.57 and its 200-day simple moving average is $8.00. Rayonier Advanced Materials has a 12 month low of $3.72 and a 12 month high of $10.28. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73.

Insiders Place Their Bets

In other news, Director Eric Bowen acquired 12,500 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $8.04 per share, with a total value 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 position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.14% of the company’s stock.

Institutional Trading of Rayonier Advanced Materials

A number of institutional investors have recently modified their holdings of RYAM. Creative Planning bought a new stake in shares of Rayonier Advanced Materials during the 3rd quarter valued at $220,000. Empowered Funds LLC lifted its position in shares of Rayonier Advanced Materials by 21.9% during the 3rd quarter. Empowered Funds LLC now owns 339,592 shares of the basic materials company’s stock worth $2,907,000 after buying an additional 61,054 shares during the last quarter. Quest Partners LLC acquired a new position in Rayonier Advanced Materials in the 3rd quarter worth about $166,000. Intech Investment Management LLC acquired a new stake in shares of Rayonier Advanced Materials in the third quarter valued at about $139,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Rayonier Advanced Materials in the third quarter valued at about $2,574,000. 68.64% of the stock is currently owned by institutional investors.

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.