Stock Traders Purchase Large Volume of Call Options on Rayonier Advanced Materials (NYSE:RYAM)

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 3,263 call options on the company. This represents an increase of 209% compared to the typical daily volume of 1,056 call options.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RYAM. Weiss Ratings restated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Institutional Investors Weigh In On Rayonier Advanced Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Irenic Capital Management LP bought a new position in shares of Rayonier Advanced Materials in the first quarter worth $15,013,000. Quantinno Capital Management LP lifted its holdings in Rayonier Advanced Materials by 10.7% during the 1st quarter. Quantinno Capital Management LP now owns 89,211 shares of the basic materials company’s stock worth $988,000 after purchasing an additional 8,596 shares in the last quarter. SummitTX Capital L.P. purchased a new position in Rayonier Advanced Materials during the 1st quarter valued at about $2,341,000. Lazard Asset Management LLC purchased a new position in Rayonier Advanced Materials during the 1st quarter valued at about $2,150,000. Finally, Waverly Advisors LLC bought a new stake in shares of Rayonier Advanced Materials during the first quarter valued at about $1,298,000. Institutional investors own 68.64% of the company’s stock.

Rayonier Advanced Materials Stock Performance

Rayonier Advanced Materials stock traded down $0.01 during midday trading on Friday, reaching $7.35. The stock had a trading volume of 1,714,741 shares, compared to its average volume of 1,001,920. The firm has a market capitalization of $495.41 million, a PE ratio of -1.04 and a beta of 1.78. Rayonier Advanced Materials has a 12 month low of $3.35 and a 12 month high of $11.85. The company has a quick ratio of 0.79, a current ratio of 1.37 and a debt-to-equity ratio of 3.21. The firm’s 50-day moving average price is $8.79 and its 200 day moving average price is $8.71.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, May 5th. The basic materials company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.60). Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%.The business had revenue of $319.06 million during the quarter, compared to analysts’ expectations of $302.63 million. As a group, research analysts predict that Rayonier Advanced Materials will post -1.16 earnings per share for the current fiscal year.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.