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

Posted by Defense World Staff on May 18th, 2023

Rayonier Advanced Materials Inc. (NYSE:RYAM – Get Rating) was the target of unusually large options trading on Wednesday. Stock investors bought 22,661 put options on the company. This represents an increase of 1,255% compared to the typical daily volume of 1,673 put options.

Wall Street Analyst Weigh In

RYAM has been the subject of several recent analyst reports. StockNews.com initiated coverage on Rayonier Advanced Materials in a research report on Thursday, March 16th. They set a “hold” rating for the company. Royal Bank of Canada upgraded Rayonier Advanced Materials from a “sector perform” rating to an “outperform” rating and set a $7.00 target price for the company in a research report on Thursday, May 11th.

Rayonier Advanced Materials Price Performance

Shares of Rayonier Advanced Materials stock opened at $4.25 on Thursday. The company has a current ratio of 2.06, a quick ratio of 1.32 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $276.76 million, a PE ratio of 26.56 and a beta of 3.12. The business’s 50-day moving average price is $5.68 and its 200-day moving average price is $6.86. Rayonier Advanced Materials has a 12 month low of $2.43 and a 12 month high of $9.84.

Rayonier Advanced Materials (NYSE:RYAM – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The basic materials company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $500.00 million for the quarter. Rayonier Advanced Materials had a return on equity of 0.62% and a net margin of 0.71%. During the same quarter last year, the company posted ($0.37) earnings per share. Sell-side analysts forecast that Rayonier Advanced Materials will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Rayonier Advanced Materials news, CEO Delyle W. Bloomquist purchased 60,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $4.47 per share, for a total transaction of $268,200.00. Following the completion of the acquisition, the chief executive officer now owns 154,769 shares of the company’s stock, valued at approximately $691,817.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Delyle W. Bloomquist acquired 60,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average cost of $4.47 per share, for a total transaction of $268,200.00. Following the purchase, the chief executive officer now owns 154,769 shares in the company, valued at approximately $691,817.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa M. Palumbo acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $4.93 per share, for a total transaction of $49,300.00. Following the completion of the purchase, the director now owns 106,302 shares in the company, valued at approximately $524,068.86. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 77,000 shares of company stock worth $350,330. 3.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rayonier Advanced Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maryland State Retirement & Pension System purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth approximately $253,000. MetLife Investment Management LLC purchased a new stake in Rayonier Advanced Materials in the 3rd quarter worth approximately $106,000. Cornerstone Investment Partners LLC purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth approximately $226,000. Everence Capital Management Inc. purchased a new stake in Rayonier Advanced Materials in the 4th quarter worth approximately $120,000. Finally, Counterpoint Mutual Funds LLC lifted its holdings in Rayonier Advanced Materials by 11.6% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 27,909 shares of the basic materials company’s stock worth $268,000 after buying an additional 2,899 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Rayonier Advanced Materials Company Profile

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Rayonier Advanced Materials, Inc engages in the manufacture of high purity cellulose, paperboard, and high-yield pulp products. It operates through the following segments: High Purity Cellulose, Paperboard, and High-Yield Pulp. The High Purity Cellulose segment manufactures and markets high purity cellulose, which is sold as either cellulose specialties or commodity products in the U.S., Canada, and France.

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