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

Key Points

• Put-option activity surged: Investors purchased 5,019 RYAM put options, 261% above the average volume of 1,390, signaling unusually high bearish-positioning activity.
• Shares rose modestly to $6.55 on trading volume more than twice the average, but remain well below the 12-month high of $11.85. The company reported a quarterly EPS loss of $0.30, missing estimates, and analysts expect a full-year loss.
• Analyst sentiment remains mixed: Ratings include one Buy, one Hold, and one Sell, producing an overall “Hold” consensus with a $13.00 average price target. Institutional investors own 68.64% of the stock.

Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) saw unusually large options trading on Tuesday. Stock investors acquired 5,019 put options on the stock. This is an increase of 261% compared to the average volume of 1,390 put options.

Rayonier Advanced Materials Trading Up 1.1%

Shares of NYSE:RYAM traded up $0.07 on Tuesday, hitting $6.55. 2,316,619 shares of the company's stock were exchanged, compared to its average volume of 1,007,009. Rayonier Advanced Materials has a 12 month low of $5.38 and a 12 month high of $11.85. The stock has a market capitalization of $443.34 million, a price-to-earnings ratio of -3.10 and a beta of 1.84. The business's 50 day simple moving average is $7.98 and its two-hundred day simple moving average is $8.68. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.37 and a quick ratio of 0.85.

Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.08). The company had revenue of $376.14 million during the quarter, compared to the consensus estimate of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.19% and a negative net margin of 9.53%. Analysts anticipate that Rayonier Advanced Materials will post -1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Rayonier Advanced Materials

Hedge funds have recently added to or reduced their stakes in the stock. BOK Financial Private Wealth Inc. bought a new stake in shares of Rayonier Advanced Materials during the second quarter valued at approximately $37,000. Public Employees Retirement System of Ohio bought a new position in Rayonier Advanced Materials in the second quarter worth approximately $41,000. Legal & General Group Plc bought a new position in Rayonier Advanced Materials in the second quarter worth approximately $48,000. Fifth Third Wealth Advisors LLC purchased a new position in Rayonier Advanced Materials during the 3rd quarter worth $81,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Rayonier Advanced Materials during the 2nd quarter worth $133,000. 68.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research raised Rayonier Advanced Materials from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada reduced their target price on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Rayonier Advanced Materials from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rayonier Advanced Materials in a research note on Thursday, October 15th. One equities 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 company. Based on data from MarketBeat, Rayonier Advanced Materials has an average rating of "Hold" and an average price target of $13.00.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc NYSE: RYAM is a specialty materials company that manufactures cellulose-based products for industrial and consumer applications. Its portfolio includes high-purity cellulose, cellulose specialties, and other engineered materials used in products such as acetate tow for cigarette filters, pharmaceutical and food-grade excipients, coatings, films, plastics, and other specialty applications.

The company also produces performance fibers and related cellulose products for markets including textiles, nonwovens, and industrial materials.

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