Rayonier Advanced Materials Sees Unusually High Options Volume (NYSE:RYAM)

Rayonier Advanced Materials Inc. (NYSE:RYAM) saw unusually large options trading activity on Wednesday. Investors purchased 3,702 put options on the company. This represents an increase of approximately 123% compared to the average volume of 1,661 put options.

Rayonier Advanced Materials Price Performance

RYAM opened at $9.50 on Thursday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.92 and a current ratio of 1.58. The stock has a market capitalization of $640.11 million, a P/E ratio of -1.50 and a beta of 2.03. The company’s 50-day simple moving average is $9.90 and its two-hundred day simple moving average is $7.95. Rayonier Advanced Materials has a 52-week low of $3.35 and a 52-week high of $11.85.

Rayonier Advanced Materials (NYSE:RYAM) last posted its earnings results on Tuesday, March 3rd. The basic materials company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.19). The company had revenue of $417.55 million for the quarter, compared to the consensus estimate of $364.07 million. Rayonier Advanced Materials had a negative net margin of 28.65% and a negative return on equity of 19.70%. As a group, analysts predict that Rayonier Advanced Materials will post -0.66 EPS for the current year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its stake in Rayonier Advanced Materials by 754.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,963 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 7,031 shares during the period. Tactive Advisors LLC bought a new position in Rayonier Advanced Materials during the 3rd quarter valued at about $82,000. Covestor Ltd lifted its stake in Rayonier Advanced Materials by 46.7% during the 3rd quarter. Covestor Ltd now owns 11,421 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 3,636 shares during the period. Graham Capital Management L.P. bought a new position in Rayonier Advanced Materials during the 4th quarter valued at about $76,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Rayonier Advanced Materials during the 4th quarter valued at about $86,000. Institutional investors own 68.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RYAM. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Royal Bank Of Canada upped their price target on shares of Rayonier Advanced Materials from $9.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.00.

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.