Short Interest in Rayonier Advanced Materials Inc. (NYSE:RYAM) Drops By 29.6%

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 647,100 shares, a decrease of 29.6% from the February 28th total of 919,200 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 486,500 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. PharVision Advisers LLC bought a new stake in Rayonier Advanced Materials during the fourth quarter valued at about $227,000. Squarepoint Ops LLC increased its position in Rayonier Advanced Materials by 62.5% during the 4th quarter. Squarepoint Ops LLC now owns 90,426 shares of the basic materials company’s stock valued at $746,000 after buying an additional 34,777 shares in the last quarter. State of Wyoming increased its stake in Rayonier Advanced Materials by 89.8% during the 4th quarter. State of Wyoming now owns 75,327 shares of the basic materials company’s stock valued at $621,000 after purchasing an additional 35,645 shares in the last quarter. Sherbrooke Park Advisers LLC grew its stake in Rayonier Advanced Materials by 145.0% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 27,976 shares of the basic materials company’s stock valued at $231,000 after purchasing an additional 16,557 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Rayonier Advanced Materials by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 18,030 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 5,932 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Rayonier Advanced Materials Price Performance

RYAM stock traded down $0.12 during mid-day trading on Tuesday, hitting $5.64. The company had a trading volume of 489,375 shares, compared to its average volume of 512,768. The company has a 50-day moving average price of $6.86 and a 200 day moving average price of $7.79. Rayonier Advanced Materials has a 12-month low of $3.72 and a 12-month high of $10.28. The company has a market capitalization of $371.72 million, a price-to-earnings ratio of -4.40 and a beta of 3.02. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02.

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.