Rayonier Advanced Materials Inc. (NYSE:RYAM) Short Interest Update

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 647,100 shares, a decline of 29.6% from the February 28th total of 919,200 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 486,500 shares, the short-interest ratio is currently 1.3 days.

Hedge Funds Weigh In On Rayonier Advanced Materials

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its holdings in Rayonier Advanced Materials by 176.2% in the third quarter. Jane Street Group LLC now owns 174,693 shares of the basic materials company's stock valued at $1,495,000 after buying an additional 111,440 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Rayonier Advanced Materials by 157.9% in the third quarter. JPMorgan Chase & Co. now owns 500,891 shares of the basic materials company's stock worth $4,288,000 after buying an additional 306,640 shares during the period. SG Americas Securities LLC raised its holdings in shares of Rayonier Advanced Materials by 33.5% during the 4th quarter. SG Americas Securities LLC now owns 45,367 shares of the basic materials company's stock valued at $374,000 after buying an additional 11,384 shares during the period. BNP Paribas Financial Markets boosted its holdings in Rayonier Advanced Materials by 760.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 183,971 shares of the basic materials company's stock worth $1,575,000 after acquiring an additional 162,588 shares during the period. Finally, XTX Topco Ltd grew its position in Rayonier Advanced Materials by 263.0% in the third quarter. XTX Topco Ltd now owns 101,921 shares of the basic materials company's stock valued at $872,000 after acquiring an additional 73,846 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com cut shares of Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Royal Bank of Canada reduced their price objective on Rayonier Advanced Materials from $12.00 to $11.00 and set an "outperform" rating for the company in a report on Friday, March 7th.

Rayonier Advanced Materials Price Performance

RYAM traded up $0.08 during midday trading on Wednesday, reaching $5.73. 370,702 shares of the company's stock were exchanged, compared to its average volume of 512,261. Rayonier Advanced Materials has a 1-year low of $3.72 and a 1-year high of $10.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09. The business's 50-day moving average price is $6.82 and its 200 day moving average price is $7.77. The stock has a market capitalization of $377.99 million, a PE ratio of -4.48 and a beta of 3.01.

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.