Short Interest in Rayonier Advanced Materials Inc. (NYSE:RYAM) Decreases By 22.6%

Rayonier Advanced Materials Inc. (NYSE:RYAM) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 647,500 shares, a drop of 22.6% from the October 31st total of 836,200 shares. Based on an average daily trading volume, of 563,600 shares, the short-interest ratio is presently 1.1 days. Approximately 1.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

RYAM has been the topic of a number of research reports. Royal Bank of Canada upped their price target on Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a report on Wednesday.

Institutional Investors Weigh In On Rayonier Advanced Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Rayonier Advanced Materials by 5.9% in the 2nd 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. increased its position in shares of Rayonier Advanced Materials by 0.9% during the first 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 lifted its holdings in Rayonier Advanced Materials by 1,923.5% during 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. American Century Companies Inc. boosted its position in Rayonier Advanced Materials by 24.7% in the second 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 last quarter. Finally, Renaissance Technologies LLC grew its stake in Rayonier Advanced Materials by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,496,142 shares of the basic materials company’s stock valued at $8,139,000 after purchasing an additional 101,128 shares during the period. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Stock Up 1.0 %

Shares of NYSE RYAM traded up $0.09 during mid-day trading on Friday, reaching $8.81. 190,456 shares of the company’s stock traded hands, compared to its average volume of 534,079. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The business has a 50-day simple moving average of $8.60 and a 200 day simple moving average of $7.11. The stock has a market cap of $580.72 million, a P/E ratio of -6.88 and a beta of 3.01. Rayonier Advanced Materials has a 1-year low of $3.15 and a 1-year high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. Rayonier Advanced Materials had a negative return on equity of 1.61% and a negative net margin of 5.21%. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $412.20 million. During the same quarter in the previous year, the business earned ($0.41) EPS. On average, analysts expect that Rayonier Advanced Materials will post -0.08 EPS for the current fiscal year.

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.