Short Interest in Rayonier Advanced Materials Inc. (NYSE:RYAM) Increases By 57.0%

Key Points

• Rayonier Advanced Materials Inc. experienced a significant 57% increase in short interest, rising to 1,150,000 shares as of August 15th, 2023.
• CEO Delyle W. Bloomquist purchased 53,533 shares of the company's stock for $252,140, increasing his ownership by 11.01%.
• The company reported a loss of $0.43 EPS for the last quarter, which was below analyst estimates, with revenues of $340 million compared to expectations of $387.07 million.

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 1,150,000 shares, a growth of 57.0% from the July 31st total of 732,300 shares. Based on an average daily volume of 587,200 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 587,200 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analyst Weigh In

RYAM has been the subject of a number of analyst reports. Wall Street Zen lowered Rayonier Advanced Materials from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Zacks Research raised Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research note on Monday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Rayonier Advanced Materials currently has an average rating of "Moderate Buy" and an average target price of $6.00.

Insider Transactions at Rayonier Advanced Materials

In related news, CEO Delyle W. Bloomquist acquired 53,533 shares of Rayonier Advanced Materials stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average price of $4.71 per share, for a total transaction of $252,140.43. Following the transaction, the chief executive officer directly owned 539,557 shares of the company's stock, valued at $2,541,313.47. This trade represents a 11.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.41% of the stock is owned by corporate insiders.

Institutional Trading of Rayonier Advanced Materials

Institutional investors have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Rayonier Advanced Materials by 127.0% in the fourth quarter. Millennium Management LLC now owns 846,678 shares of the basic materials company's stock valued at $6,985,000 after buying an additional 473,723 shares during the period. New York State Teachers Retirement System acquired a new stake in shares of Rayonier Advanced Materials in the first quarter valued at $34,000. Deutsche Bank AG lifted its holdings in shares of Rayonier Advanced Materials by 18.2% in the fourth quarter. Deutsche Bank AG now owns 123,297 shares of the basic materials company's stock valued at $1,017,000 after buying an additional 18,954 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rayonier Advanced Materials by 57.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 651,776 shares of the basic materials company's stock valued at $3,748,000 after buying an additional 238,998 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Rayonier Advanced Materials by 13.2% during the first quarter. Assenagon Asset Management S.A. now owns 259,475 shares of the basic materials company's stock valued at $1,492,000 after purchasing an additional 30,282 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company's stock.

Rayonier Advanced Materials Stock Performance

Shares of NYSE:RYAM traded up $0.17 on Friday, hitting $6.31. The company's stock had a trading volume of 645,916 shares, compared to its average volume of 680,315. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.83 and a current ratio of 1.45. The company has a market capitalization of $422.77 million, a price-to-earnings ratio of -0.95 and a beta of 2.56. The stock's 50-day moving average is $4.81 and its two-hundred day moving average is $4.72. Rayonier Advanced Materials has a 12 month low of $3.35 and a 12 month high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.23). The firm had revenue of $340.00 million during the quarter, compared to analyst estimates of $387.07 million. Rayonier Advanced Materials had a negative net margin of 29.23% and a negative return on equity of 12.11%. On average, equities research analysts forecast that Rayonier Advanced Materials will post -0.08 EPS for the current year.

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.