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

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the target 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. Based on an average trading volume of 486,500 shares, the short-interest ratio is currently 1.3 days. Approximately 1.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RYAM. Dimensional Fund Advisors LP grew its stake in Rayonier Advanced Materials by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,970,285 shares of the basic materials company’s stock worth $32,754,000 after buying an additional 146,799 shares during the period. Vanguard Group Inc. boosted its position in Rayonier Advanced Materials by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,735,408 shares of the basic materials company’s stock worth $30,817,000 after purchasing an additional 26,402 shares during the period. American Century Companies Inc. increased its holdings in Rayonier Advanced Materials by 20.3% in the 4th quarter. American Century Companies Inc. now owns 2,169,320 shares of the basic materials company’s stock valued at $17,897,000 after purchasing an additional 366,009 shares in the last quarter. Renaissance Technologies LLC raised its position in Rayonier Advanced Materials by 29.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,021,444 shares of the basic materials company’s stock valued at $16,677,000 after purchasing an additional 464,630 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Rayonier Advanced Materials by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,492,578 shares of the basic materials company’s stock worth $12,779,000 after purchasing an additional 26,032 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Rayonier Advanced Materials Trading Up 3.1 %

Shares of Rayonier Advanced Materials stock traded up $0.18 during trading hours on Monday, reaching $5.74. The stock had a trading volume of 808,523 shares, compared to its average volume of 513,063. The firm has a market capitalization of $378.32 million, a price-to-earnings ratio of -4.48 and a beta of 3.02. Rayonier Advanced Materials has a 1 year low of $3.72 and a 1 year high of $10.28. 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 firm has a 50 day simple moving average of $6.86 and a two-hundred day simple moving average of $7.79.

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.