Rayonier Advanced Materials Inc. (NYSE:RYAM) Sees Large Decline in Short Interest

Rayonier Advanced Materials Inc. (NYSE:RYAM) saw a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 2,049,083 shares, a decrease of 16.2% from the January 15th total of 2,444,293 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average trading volume of 836,348 shares, the short-interest ratio is currently 2.5 days. Based on an average trading volume of 836,348 shares, the short-interest ratio is currently 2.5 days. Currently, 3.2% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Thursday, January 22nd. Zacks Research upgraded Rayonier Advanced Materials from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.00.

Rayonier Advanced Materials Stock Performance

Shares of NYSE:RYAM traded down $0.34 during trading on Tuesday, reaching $7.91. The company had a trading volume of 727,519 shares, compared to its average volume of 735,172. Rayonier Advanced Materials has a fifty-two week low of $3.35 and a fifty-two week high of $8.95. The firm has a market capitalization of $529.71 million, a price-to-earnings ratio of -1.26 and a beta of 2.22. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.57 and a quick ratio of 0.89. The stock’s fifty day moving average price is $7.25 and its 200 day moving average price is $6.60.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of large investors have recently added to or reduced their stakes in the business. LSV Asset Management boosted its stake in shares of Rayonier Advanced Materials by 49.5% during the 2nd quarter. LSV Asset Management now owns 182,100 shares of the basic materials company’s stock worth $701,000 after purchasing an additional 60,300 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Rayonier Advanced Materials by 40.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 346,635 shares of the basic materials company’s stock valued at $2,503,000 after purchasing an additional 99,482 shares in the last quarter. Acadian Asset Management LLC grew its stake in Rayonier Advanced Materials by 2.4% during the second quarter. Acadian Asset Management LLC now owns 1,557,852 shares of the basic materials company’s stock worth $5,996,000 after buying an additional 36,298 shares during the period. Wellspring Financial Advisors LLC raised its holdings in shares of Rayonier Advanced Materials by 13.3% during the 2nd quarter. Wellspring Financial Advisors LLC now owns 139,950 shares of the basic materials company’s stock valued at $539,000 after buying an additional 16,429 shares during the period. Finally, American Century Companies Inc. boosted its position in Rayonier Advanced Materials by 5.8% in the 2nd quarter. American Century Companies Inc. now owns 2,565,807 shares of the basic materials company’s stock valued at $9,878,000 after buying an additional 140,703 shares during the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.