Zacks Investment Research upgraded shares of Rayonier Advanced Materials (NYSE:RYAM) from a strong sell rating to a hold rating in a research report released 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 topic of several other reports. TheStreet upgraded White Mountains Insurance Group from a c rating to a b rating in a report on Monday, May 13th. ValuEngine cut Yext from a strong-buy rating to a buy rating in a report on Friday, May 10th. Finally, DA Davidson set a $40.00 target price on Wolverine World Wide and gave the stock a buy rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $19.33.

RYAM stock opened at $5.43 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.03 and a debt-to-equity ratio of 1.78. Rayonier Advanced Materials has a 12-month low of $4.97 and a 12-month high of $22.07. The firm has a market cap of $274.40 million, a PE ratio of 3.21 and a beta of 3.65. The business has a 50-day moving average price of $6.44.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Wednesday, May 8th. The basic materials company reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.66). The company had revenue of $483.00 million for the quarter, compared to analyst estimates of $509.84 million. Rayonier Advanced Materials had a return on equity of 8.96% and a net margin of 3.96%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities research analysts anticipate that Rayonier Advanced Materials will post -0.03 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Thursday, June 13th. Rayonier Advanced Materials’s dividend payout ratio is currently 16.57%.

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC raised its position in shares of Rayonier Advanced Materials by 5.5% during the 4th quarter. LPL Financial LLC now owns 14,988 shares of the basic materials company’s stock valued at $160,000 after buying an additional 786 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Rayonier Advanced Materials by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 37,260 shares of the basic materials company’s stock valued at $397,000 after buying an additional 819 shares during the period. Texas Permanent School Fund raised its position in shares of Rayonier Advanced Materials by 3.7% during the 4th quarter. Texas Permanent School Fund now owns 33,414 shares of the basic materials company’s stock valued at $356,000 after buying an additional 1,191 shares during the period. Meeder Asset Management Inc. raised its position in shares of Rayonier Advanced Materials by 248.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,852 shares of the basic materials company’s stock valued at $25,000 after buying an additional 1,320 shares during the period. Finally, Investors Research Corp purchased a new stake in shares of Rayonier Advanced Materials during the 1st quarter valued at approximately $26,000. 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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