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

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) was the recipient of a large drop in short interest in the month of 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. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 563,600 shares, the short-interest ratio is currently 1.1 days.

Analysts Set New Price Targets

A number of analysts have recently commented on RYAM shares. StockNews.com raised Rayonier Advanced Materials from a "hold" rating to a "buy" rating in a research note on Wednesday. Royal Bank of Canada upped their price target on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday, November 7th.

Rayonier Advanced Materials Stock Up 1.0 %

NYSE RYAM traded up $0.09 during trading on Friday, reaching $8.81. 190,455 shares of the company's stock were exchanged, compared to its average volume of 534,079. 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 has a fifty-two week low of $3.15 and a fifty-two week high of $10.28. The company's fifty day simple moving average is $8.59 and its 200-day simple moving average is $7.06. The firm has a market capitalization of $580.76 million, a PE ratio of -6.81 and a beta of 3.01.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last announced its quarterly 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. The business had revenue of $401.00 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned ($0.41) EPS. Sell-side analysts predict that Rayonier Advanced Materials will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its holdings in Rayonier Advanced Materials by 71.6% during the third quarter. Franklin Resources Inc. now owns 118,174 shares of the basic materials company's stock valued at $962,000 after acquiring an additional 49,309 shares during the period. Barclays PLC boosted its stake in Rayonier Advanced Materials by 273.6% during the 3rd quarter. Barclays PLC now owns 83,893 shares of the basic materials company's stock valued at $718,000 after purchasing an additional 61,437 shares during the period. Geode Capital Management LLC grew its holdings 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 buying an additional 26,032 shares during the last quarter. Public Employees Retirement System of Ohio increased its position 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 worth $540,000 after buying an additional 1,139 shares during the period. Finally, XTX Topco Ltd lifted 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 buying an additional 73,846 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company's stock.

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.