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

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,110,000 shares, a drop of 17.2% from the June 30th total of 1,340,000 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 526,600 shares, the short-interest ratio is currently 2.1 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its holdings in Rayonier Advanced Materials by 22.8% in the 4th quarter. Mackenzie Financial Corp now owns 20,038 shares of the basic materials company’s stock valued at $81,000 after purchasing an additional 3,718 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Rayonier Advanced Materials by 64.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,396 shares of the basic materials company’s stock valued at $58,000 after buying an additional 5,633 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Rayonier Advanced Materials in the fourth quarter worth about $47,000. Simplicity Solutions LLC acquired a new position in Rayonier Advanced Materials during the fourth quarter worth about $47,000. Finally, Simplicity Wealth LLC purchased a new stake in Rayonier Advanced Materials during the 1st quarter valued at about $59,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Rayonier Advanced Materials Price Performance

Shares of NYSE:RYAM traded down $0.09 during midday trading on Monday, reaching $6.27. 386,454 shares of the company’s stock traded hands, compared to its average volume of 517,548. The company has a fifty day simple moving average of $5.60 and a two-hundred day simple moving average of $4.75. Rayonier Advanced Materials has a 1 year low of $2.66 and a 1 year high of $6.55. The company has a market cap of $411.19 million, a P/E ratio of -3.89 and a beta of 3.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.95 and a current ratio of 1.64.

Rayonier Advanced Materials (NYSE:RYAM) last posted its quarterly earnings data on Tuesday, May 7th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Rayonier Advanced Materials had a negative return on equity of 7.77% and a negative net margin of 6.71%. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $483.00 million. Equities analysts predict that Rayonier Advanced Materials will post -0.34 EPS for the current fiscal year.

Rayonier Advanced Materials Company Profile

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.