Rayonier Advanced Materials (RYAM) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Rayonier Advanced Materials (NYSE:RYAM) from a buy rating to a strong sell rating in a research report released on Thursday.

According to Zacks, “Rayonier Advanced Materials Inc. operates as a global supplier of cellulose specialties products, a natural polymer for the chemical industry. Its products include cellulose specialties primarily used in dissolving chemical applications; commodity viscose used in the manufacture of textiles for clothing and other fabrics, and in non-woven applications; absorbent materials comprising fibers for absorbent hygiene products and other products. Rayonier’s products are used in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. The Company’s production facilities are located primarily in Jesup, Georgia, and Fernandina Beach, Florida. Rayonier Advanced Materials Inc. is headquartered in Jacksonville, Florida. “

RYAM has been the topic of several other research reports. ValuEngine raised shares of Rayonier Advanced Materials from a hold rating to a buy rating in a research note on Tuesday, July 31st. Berenberg Bank began coverage on shares of Rayonier Advanced Materials in a research note on Thursday, July 12th. They set a buy rating and a $25.00 price objective on the stock. Finally, Bank of America reduced their price objective on shares of Rayonier Advanced Materials from $26.00 to $24.00 and set a buy rating on the stock in a research note on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $21.25.

Rayonier Advanced Materials stock traded down $0.16 during midday trading on Thursday, hitting $13.26. 589,879 shares of the stock were exchanged, compared to its average volume of 1,026,862. Rayonier Advanced Materials has a 52 week low of $13.20 and a 52 week high of $22.96. The firm has a market capitalization of $679.08 million, a price-to-earnings ratio of 7.99, a PEG ratio of 0.31 and a beta of 3.46. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.17 and a quick ratio of 1.15.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.07. Rayonier Advanced Materials had a net margin of 23.97% and a return on equity of 17.08%. The business had revenue of $542.00 million for the quarter, compared to analyst estimates of $544.22 million. During the same quarter last year, the firm earned $0.11 EPS. Rayonier Advanced Materials’s quarterly revenue was up 169.7% compared to the same quarter last year. As a group, analysts predict that Rayonier Advanced Materials will post 2.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, December 14th. Rayonier Advanced Materials’s payout ratio is 28.87%.

A number of hedge funds have recently made changes to their positions in RYAM. Northern Trust Corp raised its holdings in Rayonier Advanced Materials by 6.8% during the 1st quarter. Northern Trust Corp now owns 907,539 shares of the basic materials company’s stock worth $19,485,000 after buying an additional 57,563 shares during the period. BlackRock Inc. raised its holdings in Rayonier Advanced Materials by 5.6% during the 1st quarter. BlackRock Inc. now owns 6,560,941 shares of the basic materials company’s stock worth $140,865,000 after buying an additional 346,575 shares during the period. Dimensional Fund Advisors LP raised its holdings in Rayonier Advanced Materials by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,714,885 shares of the basic materials company’s stock worth $36,818,000 after buying an additional 35,102 shares during the period. Stifel Financial Corp acquired a new stake in Rayonier Advanced Materials during the 1st quarter worth approximately $509,000. Finally, State of Tennessee Treasury Department raised its holdings in Rayonier Advanced Materials by 8.1% during the 1st quarter. State of Tennessee Treasury Department now owns 37,355 shares of the basic materials company’s stock worth $802,000 after buying an additional 2,797 shares during the period. Hedge funds and other institutional investors own 98.22% 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, Japan, Europe, Latin America, other Asian countries, Canada, and internationally. The company operates through High Purity Cellulose, Forest Products, and Pulp & Paper segments. Its products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.

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