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

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the target of a significant 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. Based on an average daily volume of 563,600 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.0% of the company’s shares are short sold.

Rayonier Advanced Materials Stock Down 1.1 %

Shares of Rayonier Advanced Materials stock opened at $8.72 on Friday. Rayonier Advanced Materials has a 1 year low of $3.02 and a 1 year high of $10.28. 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 business has a 50-day moving average of $8.59 and a two-hundred day moving average of $7.06.

Rayonier Advanced Materials (NYSE:RYAM) last announced its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, topping the consensus estimate 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 net margin of 5.21% and a negative return on equity of 1.61%. During the same period last year, the company posted ($0.41) EPS. Analysts anticipate that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada lifted their price target on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Rayonier Advanced Materials

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

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.