Rayonier Advanced Materials Inc. (NYSE:RYAM) Sees Large Decline in Short Interest

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

Rayonier Advanced Materials Stock Down 1.1 %

Rayonier Advanced Materials stock opened at $8.72 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.09 and a current ratio of 1.73. The company’s 50-day moving average is $8.59 and its 200-day moving average is $7.06. Rayonier Advanced Materials has a fifty-two week low of $3.02 and a fifty-two week high of $10.28.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in Rayonier Advanced Materials by 71.6% during the 3rd quarter. Franklin Resources Inc. now owns 118,174 shares of the basic materials company’s stock valued at $962,000 after purchasing an additional 49,309 shares during the last quarter. Barclays PLC lifted its stake in shares of Rayonier Advanced Materials by 273.6% during the 3rd quarter. Barclays PLC now owns 83,893 shares of the basic materials company’s stock worth $718,000 after buying an additional 61,437 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rayonier Advanced Materials by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,492,578 shares of the basic materials company’s stock worth $12,779,000 after buying an additional 26,032 shares during the period. Public Employees Retirement System of Ohio grew its stake in Rayonier Advanced Materials by 1.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 63,054 shares of the basic materials company’s stock valued at $540,000 after buying an additional 1,139 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in Rayonier Advanced Materials by 263.0% in the 3rd quarter. XTX Topco Ltd now owns 101,921 shares of the basic materials company’s stock valued at $872,000 after acquiring an additional 73,846 shares during the period. 68.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.