Rayonier Advanced Materials (NYSE:RYAM) Shares Gap Down – Should You Sell?

Rayonier Advanced Materials Inc. (NYSE:RYAM) gapped down prior to trading on Monday . The stock had previously closed at $8.95, but opened at $8.60. Rayonier Advanced Materials shares last traded at $8.33, with a volume of 127,991 shares.

Wall Street Analysts Forecast Growth

RYAM has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of Rayonier Advanced Materials from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. StockNews.com raised shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th.

Rayonier Advanced Materials Stock Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.09. The firm has a market cap of $538.32 million, a price-to-earnings ratio of -6.95 and a beta of 2.99. The firm has a fifty day simple moving average of $7.80 and a two-hundred day simple moving average of $6.08.

Rayonier Advanced Materials (NYSE:RYAM) last issued its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.26. Rayonier Advanced Materials had a negative net margin of 4.82% and a negative return on equity of 3.96%. The business had revenue of $419.00 million for the quarter, compared to analyst estimates of $407.10 million. During the same quarter in the prior year, the business posted ($0.25) EPS. On average, analysts expect that Rayonier Advanced Materials Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Rayonier Advanced Materials by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,598,490 shares of the basic materials company’s stock valued at $19,576,000 after buying an additional 201,939 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Rayonier Advanced Materials by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock valued at $16,334,000 after acquiring an additional 31,281 shares during the last quarter. Boston Partners increased its stake in shares of Rayonier Advanced Materials by 1,923.5% in the first quarter. Boston Partners now owns 2,161,539 shares of the basic materials company’s stock worth $10,307,000 after acquiring an additional 2,054,715 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of 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 last quarter. Finally, American Century Companies Inc. grew its position in Rayonier Advanced Materials by 24.7% during the 2nd quarter. American Century Companies Inc. now owns 1,516,198 shares of the basic materials company’s stock worth $8,248,000 after purchasing an additional 300,793 shares during the period. 68.64% of the stock is 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.