Rayonier Advanced Materials Inc. (NYSE:RYAM) Short Interest Down 17.2% in July

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 1,110,000 shares, a decrease of 17.2% from the June 30th total of 1,340,000 shares. Based on an average daily volume of 526,600 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of large investors have recently added to or reduced their stakes in RYAM. Russell Investments Group Ltd. raised its stake in shares of Rayonier Advanced Materials by 471.8% during the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock valued at $9,548,000 after acquiring an additional 1,648,101 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Rayonier Advanced Materials in the 4th quarter worth approximately $1,845,000. CastleKnight Management LP increased its stake in shares of Rayonier Advanced Materials by 1,036.0% during the fourth quarter. CastleKnight Management LP now owns 1,963,057 shares of the basic materials company’s stock valued at $7,950,000 after buying an additional 1,790,257 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Rayonier Advanced Materials by 64.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,396 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 5,633 shares in the last quarter. Finally, Boston Partners purchased a new stake in Rayonier Advanced Materials in the fourth quarter worth $433,000. Institutional investors own 68.64% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd.

Rayonier Advanced Materials Trading Up 2.6 %

Rayonier Advanced Materials stock traded up $0.16 during mid-day trading on Tuesday, hitting $6.43. The company’s stock had a trading volume of 284,532 shares, compared to its average volume of 515,941. The business has a 50 day moving average price of $5.63 and a 200-day moving average price of $4.77. Rayonier Advanced Materials has a 12 month low of $2.66 and a 12 month high of $6.55. The stock has a market cap of $421.68 million, a price-to-earnings ratio of -3.98 and a beta of 3.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.64 and a quick ratio of 0.95.

Rayonier Advanced Materials (NYSE:RYAM) last issued its earnings results on Tuesday, May 7th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Rayonier Advanced Materials had a negative net margin of 6.71% and a negative return on equity of 7.77%. The company had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $483.00 million. As a group, analysts forecast that Rayonier Advanced Materials will post -0.34 EPS for the current year.

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.