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

Rayonier Advanced Materials Inc. (NYSE:RYAM) saw a significant drop in short interest in 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 trading volume of 563,600 shares, the short-interest ratio is presently 1.1 days. Currently, 1.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in Rayonier Advanced Materials by 71.6% in the 3rd quarter. Franklin Resources Inc. now owns 118,174 shares of the basic materials company’s stock worth $962,000 after buying an additional 49,309 shares during the period. Barclays PLC boosted its holdings in shares of 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 acquiring 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% 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 during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Rayonier Advanced Materials by 1.8% in the third 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 period. Finally, XTX Topco Ltd raised its holdings in shares of Rayonier Advanced Materials by 263.0% during the third quarter. XTX Topco Ltd now owns 101,921 shares of the basic materials company’s stock worth $872,000 after purchasing an additional 73,846 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RYAM. StockNews.com upgraded Rayonier Advanced Materials from a “hold” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted 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.

Rayonier Advanced Materials Stock Performance

Shares of NYSE RYAM traded up $0.09 during midday trading on Friday, reaching $8.81. The company had a trading volume of 190,456 shares, compared to its average volume of 616,813. Rayonier Advanced Materials has a 1 year low of $3.15 and a 1 year high of $10.28. The business’s 50-day simple moving average is $8.60 and its 200 day simple moving average is $7.11. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, November 5th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $401.00 million for the quarter, compared to the consensus estimate of $412.20 million. During the same period in the prior year, the firm earned ($0.41) EPS. On average, equities research analysts expect that Rayonier Advanced Materials will post -0.08 earnings per share for the current 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.