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

Rayonier Advanced Materials Inc. (NYSE:RYAM) was the recipient of unusually large options trading on Thursday. Investors bought 3,263 call options on the company. This represents an increase of approximately 209% compared to the average volume of 1,056 call options.

Wall Street Analyst Weigh In

Several analysts have issued reports on RYAM shares. Royal Bank Of Canada upped their target price on Rayonier Advanced Materials from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.00.

Hedge Funds Weigh In On Rayonier Advanced Materials

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

Rayonier Advanced Materials Trading Up 0.1%

Shares of RYAM stock traded up $0.01 during trading on Thursday, hitting $7.74. 1,000,872 shares of the stock traded hands, compared to its average volume of 1,071,422. The firm has a market capitalization of $521.64 million, a P/E ratio of -1.10 and a beta of 1.74. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.37 and a quick ratio of 0.79. The firm’s fifty day moving average price is $8.83 and its 200-day moving average price is $8.70. 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 issued its quarterly earnings data 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). The business had revenue of $319.06 million during the quarter, compared to analysts’ expectations of $302.63 million. Rayonier Advanced Materials had a negative return on equity of 43.24% and a negative net margin of 32.86%. As a group, research analysts forecast 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.