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Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Rating) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 2,190,000 shares, a decrease of 30.5% from the August 15th total of 3,150,000 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 554,300 shares, the short-interest ratio is presently 4.0 days. Analyst Ratings Changes
RYAM has been the subject of several recent analyst reports. Royal Bank of Canada upgraded shares of Rayonier Advanced Materials from a "sector perform" rating to an "outperform" rating and decreased their target price for the stock from $6.00 to $5.00 in a research report on Monday, July 18th. StockNews.com upgraded shares of Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a research report on Friday, August 5th.Institutional Trading of Rayonier Advanced Materials
A number of institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in shares of Rayonier Advanced Materials by 960.3% in the 2nd quarter. Jane Street Group LLC now owns 112,230 shares of the basic materials company's stock worth $294,000 after acquiring an additional 101,645 shares during the period. Condire Management LP lifted its stake in shares of Rayonier Advanced Materials by 53.4% in the 2nd quarter. Condire Management LP now owns 6,209,316 shares of the basic materials company's stock worth $16,268,000 after acquiring an additional 2,160,507 shares during the period. Prudential Financial Inc. lifted its stake in Rayonier Advanced Materials by 14.6% during the second quarter. Prudential Financial Inc. now owns 119,039 shares of the basic materials company's stock valued at $312,000 after purchasing an additional 15,140 shares during the last quarter. AQR Capital Management LLC lifted its stake in Rayonier Advanced Materials by 325.0% during the second quarter. AQR Capital Management LLC now owns 568,958 shares of the basic materials company's stock valued at $1,491,000 after purchasing an additional 435,095 shares during the last quarter. Finally, State Street Corp lifted its stake in Rayonier Advanced Materials by 2.4% during the second quarter. State Street Corp now owns 2,246,030 shares of the basic materials company's stock valued at $5,885,000 after purchasing an additional 53,140 shares during the last quarter. 84.73% of the stock is owned by institutional investors and hedge funds. Rayonier Advanced Materials Stock Performance
NYSE RYAM traded down $0.20 on Friday, hitting $4.42. The stock had a trading volume of 1,153,479 shares, compared to its average volume of 257,829. Rayonier Advanced Materials has a one year low of $2.43 and a one year high of $8.32. The company has a quick ratio of 1.21, a current ratio of 1.85 and a debt-to-equity ratio of 1.14. The stock has a market cap of $282.75 million, a price-to-earnings ratio of -3.68 and a beta of 3.20. The company's 50-day moving average is $4.17 and its two-hundred day moving average is $4.60.
Rayonier Advanced Materials (NYSE:RYAM - Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The basic materials company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.14). The company had revenue of $399.00 million during the quarter. Rayonier Advanced Materials had a negative return on equity of 10.29% and a negative net margin of 5.14%. On average, analysts expect that Rayonier Advanced Materials will post -0.57 earnings per share for the current year. Rayonier Advanced Materials Company Profile (Get Rating)
Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. Its 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.Further ReadingGet a free copy of the StockNews.com research report on Rayonier Advanced Materials (RYAM)3 Banks Worth Considering For Q4Stock Market: 3 Islands Of Strength In A Sea Of RedNo One Told These 3 Stocks It’s a Down WeekMarketBeat: Week in Review 9/12 – 9/16Is There a Cure for What is Ailing Teladoc Stock?
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