Traders Buy High Volume of Put Options on Rayonier Advanced Materials (NYSE:RYAM)

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the recipient of unusually large options trading activity on Friday. Stock traders bought 6,150 put options on the company. This is an increase of approximately 63% compared to the average volume of 3,765 put options.

Institutional Investors Weigh In On Rayonier Advanced Materials

Large investors have recently made changes to their positions in the business. Nuveen Asset Management LLC boosted its stake in shares of Rayonier Advanced Materials by 22.2% in the second quarter. Nuveen Asset Management LLC now owns 826,858 shares of the basic materials company’s stock valued at $3,539,000 after purchasing an additional 150,288 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Rayonier Advanced Materials by 140.9% in the second quarter. Alliancebernstein L.P. now owns 37,820 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 22,120 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Rayonier Advanced Materials by 53.4% in the second quarter. Wells Fargo & Company MN now owns 27,170 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 9,463 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Rayonier Advanced Materials by 26.6% in the second quarter. Public Employees Retirement System of Ohio now owns 77,716 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 16,329 shares during the period. Finally, XTX Topco Ltd boosted its stake in shares of Rayonier Advanced Materials by 49.7% in the second quarter. XTX Topco Ltd now owns 124,100 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 41,209 shares during the period. Institutional investors and hedge funds own 79.68% of the company’s stock.

Rayonier Advanced Materials Stock Performance

Shares of RYAM stock opened at $3.14 on Friday. Rayonier Advanced Materials has a one year low of $2.84 and a one year high of $9.84. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.02 and a current ratio of 1.56. The company has a 50 day moving average price of $3.95 and a 200 day moving average price of $4.87. The firm has a market capitalization of $205.17 million, a price-to-earnings ratio of 12.08 and a beta of 3.20.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, August 8th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.13). Rayonier Advanced Materials had a return on equity of 0.98% and a net margin of 1.05%. The business had revenue of $385.00 million during the quarter. Sell-side analysts anticipate that Rayonier Advanced Materials will post -0.31 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on RYAM shares. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 price objective on shares of Rayonier Advanced Materials in a report on Friday. Bank of America decreased their price objective on shares of Rayonier Advanced Materials from $4.40 to $4.00 in a report on Monday, July 10th. Finally, StockNews.com raised shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday.

About Rayonier Advanced Materials

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.