Zacks Investment Research upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a strong sell rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

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 subject of several other reports. DA Davidson set a $40.00 target price on shares of Wolverine World Wide and gave the company a buy rating in a research report on Friday, May 10th. TheStreet upgraded shares of White Mountains Insurance Group from a c rating to a b rating in a research report on Monday, May 13th. Finally, ValuEngine lowered shares of Yext from a strong-buy rating to a buy rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Rayonier Advanced Materials has an average rating of Hold and an average target price of $19.33.

Shares of NYSE RYAM opened at $5.43 on Thursday. The firm’s 50 day simple moving average is $6.44. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.08 and a quick ratio of 1.03. The company has a market capitalization of $270.41 million, a price-to-earnings ratio of 3.21 and a beta of 3.65. Rayonier Advanced Materials has a 12-month low of $4.97 and a 12-month high of $22.07.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Wednesday, May 8th. The basic materials company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.66). The business had revenue of $483.00 million for the quarter, compared to the consensus estimate of $509.84 million. Rayonier Advanced Materials had a net margin of 3.96% and a return on equity of 8.96%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. Analysts predict that Rayonier Advanced Materials will post -0.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.16%. Rayonier Advanced Materials’s payout ratio is currently 16.57%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its position in shares of Rayonier Advanced Materials by 3,636.4% during the second quarter. Nisa Investment Advisors LLC now owns 12,330 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 12,000 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Rayonier Advanced Materials during the second quarter worth $73,000. WINTON GROUP Ltd bought a new position in shares of Rayonier Advanced Materials during the second quarter worth $708,000. Denali Advisors LLC bought a new position in shares of Rayonier Advanced Materials during the second quarter worth $78,000. Finally, Hawkeye Capital Management LLC bought a new position in shares of Rayonier Advanced Materials during the first quarter worth $3,625,000. Institutional investors and hedge funds own 98.48% 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, Pulp, and 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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