Short Interest in Rayonier Advanced Materials Inc. (NYSE:RYAM) Declines By 18.9%

Rayonier Advanced Materials Inc. (NYSE:RYAMGet Free Report) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 7,000,000 shares, a drop of 18.9% from the August 15th total of 8,630,000 shares. Approximately 11.2% of the shares of the company are short sold. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is currently 5.5 days.

Rayonier Advanced Materials Trading Down 3.8 %

Shares of Rayonier Advanced Materials stock traded down $0.12 during trading on Monday, reaching $3.02. The company’s stock had a trading volume of 160,725 shares, compared to its average volume of 981,897. Rayonier Advanced Materials has a 52-week low of $2.84 and a 52-week high of $9.84. The company has a market cap of $197.34 million, a price-to-earnings ratio of 12.08 and a beta of 3.20. The firm’s 50-day moving average is $3.84 and its two-hundred day moving average is $4.71. The company has a quick ratio of 1.02, a current ratio of 1.56 and a debt-to-equity ratio of 0.92.

Rayonier Advanced Materials (NYSE:RYAMGet Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The business had revenue of $385.00 million during the quarter. Rayonier Advanced Materials had a net margin of 1.05% and a return on equity of 0.98%. On average, sell-side analysts anticipate that Rayonier Advanced Materials will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several institutional investors and hedge funds have recently modified their holdings of RYAM. BlackRock Inc. increased its stake in shares of Rayonier Advanced Materials by 0.3% in the 1st quarter. BlackRock Inc. now owns 9,971,477 shares of the basic materials company’s stock worth $65,513,000 after acquiring an additional 28,169 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Rayonier Advanced Materials by 8.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,535,440 shares of the basic materials company’s stock worth $28,437,000 after acquiring an additional 342,630 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Rayonier Advanced Materials by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,347,799 shares of the basic materials company’s stock worth $13,696,000 after acquiring an additional 253,960 shares in the last quarter. Invesco Ltd. increased its stake in shares of Rayonier Advanced Materials by 27.7% in the 1st quarter. Invesco Ltd. now owns 3,304,887 shares of the basic materials company’s stock worth $21,713,000 after acquiring an additional 717,466 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Rayonier Advanced Materials by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,393,244 shares of the basic materials company’s stock worth $10,243,000 after acquiring an additional 139,630 shares in the last quarter. 79.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RYAM has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 target price on shares of Rayonier Advanced Materials in a research note on Friday, September 8th. StockNews.com upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Saturday, September 9th. Finally, Bank of America reduced their price objective on shares of Rayonier Advanced Materials from $4.40 to $4.00 in a research note on Monday, July 10th.

View Our Latest Stock Report on RYAM

About Rayonier Advanced Materials

(Get Free Report)

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose, Paperboard, and High-Yield Pulp 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 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.

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