Rayonier Advanced Materials Inc. (NYSE:RYAM) Short Interest Down 29.6% in March

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

Analyst Ratings Changes

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

Institutional Trading of Rayonier Advanced Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in Rayonier Advanced Materials in the 3rd quarter valued at approximately $139,000. Dynamic Technology Lab Private Ltd purchased a new position in Rayonier Advanced Materials in the third quarter valued at $171,000. BNP Paribas Financial Markets increased its holdings in 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 purchasing an additional 162,588 shares during the period. Verition Fund Management LLC acquired a new stake in Rayonier Advanced Materials in the 3rd quarter valued at about $428,000. Finally, State Street Corp boosted its stake in shares of Rayonier Advanced Materials by 1.1% in the 3rd quarter. State Street Corp now owns 1,440,085 shares of the basic materials company’s stock valued at $12,327,000 after buying an additional 16,139 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Trading Down 2.0 %

Shares of RYAM stock traded down $0.12 during trading on Tuesday, hitting $5.64. 489,375 shares of the stock traded hands, compared to its average volume of 512,768. Rayonier Advanced Materials has a 52-week low of $3.72 and a 52-week high of $10.28. The firm’s fifty day moving average price is $6.86 and its 200-day moving average price is $7.79. The firm has a market capitalization of $371.72 million, a P/E ratio of -4.40 and a beta of 3.02. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.73 and a quick ratio of 1.09.

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.