Posted by admin on Jun 15th, 2022
Rayonier Advanced Materials Inc. (NYSE:RYAM – Get Rating) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 2,750,000 shares, an increase of 38.2% from the May 15th total of 1,990,000 shares. Approximately 4.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 472,000 shares, the days-to-cover ratio is currently 5.8 days.
Several research analysts recently commented on the company. StockNews.com assumed coverage on Rayonier Advanced Materials in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Royal Bank of Canada downgraded Rayonier Advanced Materials from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $8.00 to $6.00 in a research note on Thursday, April 7th.
Institutional investors and hedge funds have recently modified their holdings of the business. Counterpoint Mutual Funds LLC purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth $27,000. Moors & Cabot Inc. purchased a new position in shares of Rayonier Advanced Materials during the 3rd quarter worth $35,000. First Quadrant LLC CA purchased a new position in shares of Rayonier Advanced Materials during the 1st quarter worth $44,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Rayonier Advanced Materials during the 4th quarter worth $65,000. Finally, Jane Street Group LLC purchased a new position in shares of Rayonier Advanced Materials during the 1st quarter worth $70,000. 76.12% of the stock is owned by institutional investors and hedge funds.
NYSE RYAM traded down $0.19 during mid-day trading on Wednesday, hitting $3.15. The stock had a trading volume of 759,249 shares, compared to its average volume of 448,120. The firm’s 50 day moving average is $4.76 and its 200 day moving average is $5.54. Rayonier Advanced Materials has a twelve month low of $3.08 and a twelve month high of $8.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.97 and a quick ratio of 1.38. The stock has a market capitalization of $201.12 million, a price-to-earnings ratio of 3.18 and a beta of 3.30.
Rayonier Advanced Materials (NYSE:RYAM – Get Rating) last issued its earnings results on Tuesday, May 3rd. The basic materials company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. Rayonier Advanced Materials had a negative return on equity of 6.55% and a net margin of 4.72%. The business had revenue of $352.00 million during the quarter. During the same period last year, the business earned ($0.43) earnings per share. As a group, equities research analysts expect that Rayonier Advanced Materials will post -0.72 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.
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