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

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the target of a significant decrease in short interest in 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 company’s stock are short sold. Based on an average daily volume of 486,500 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Investors Weigh In On Rayonier Advanced Materials

Several institutional investors have recently modified their holdings of RYAM. Intech Investment Management LLC acquired a new stake in Rayonier Advanced Materials in the third quarter valued at $139,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rayonier Advanced Materials in the 3rd quarter valued at about $171,000. BNP Paribas Financial Markets raised its position in shares of Rayonier Advanced Materials by 760.4% during 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 in the last quarter. Verition Fund Management LLC purchased a new stake in Rayonier Advanced Materials during the third quarter worth approximately $428,000. Finally, State Street Corp boosted its holdings in Rayonier Advanced Materials by 1.1% in the third quarter. State Street Corp now owns 1,440,085 shares of the basic materials company’s stock valued at $12,327,000 after purchasing an additional 16,139 shares in the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RYAM has been the subject of several research reports. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Royal Bank of Canada lowered their target price on Rayonier Advanced Materials from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, March 7th.

Rayonier Advanced Materials Stock Down 3.9 %

NYSE:RYAM traded down $0.23 during mid-day trading on Friday, hitting $5.55. The stock had a trading volume of 535,144 shares, compared to its average volume of 511,881. Rayonier Advanced Materials has a twelve month low of $3.72 and a twelve month high of $10.28. The stock has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $7.80. The company has a current ratio of 1.73, a quick ratio of 1.09 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $365.79 million, a PE ratio of -4.33 and a beta of 3.02.

About Rayonier Advanced Materials

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.