Stock Traders Purchase High Volume of Put Options on Rayonier Advanced Materials (NYSE:RYAM)
Rayonier Advanced Materials Inc. (NYSE:RYAM - Get Free Report) saw some unusual options trading on Friday. Traders purchased 5,163 put options on the company. This is an increase of approximately 73% compared to the average volume of 2,987 put options.
In related news, Director Thomas I. Morgan purchased 12,195 shares of Rayonier Advanced Materials stock in a transaction on Wednesday, May 17th. The shares were bought at an average price of $4.11 per share, with a total value of $50,121.45. Following the transaction, the director now directly owns 86,603 shares of the company's stock, valued at $355,938.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Rayonier Advanced Materials news, Director Thomas I. Morgan bought 12,195 shares of the business's stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $4.11 per share, with a total value of $50,121.45. Following the transaction, the director now owns 86,603 shares of the company's stock, valued at $355,938.33. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joshua C. Hicks bought 10,000 shares of the business's stock in a transaction dated Thursday, May 25th. The shares were acquired at an average cost of $3.96 per share, for a total transaction of $39,600.00. Following the transaction, the senior vice president now directly owns 79,595 shares in the company, valued at approximately $315,196.20. The disclosure for this purchase can be found here. Insiders have purchased 102,195 shares of company stock valued at $450,581 in the last quarter. Corporate insiders own 3.14% of the company's stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RYAM. PNC Financial Services Group Inc. raised its holdings in shares of Rayonier Advanced Materials by 23.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,285 shares of the basic materials company's stock worth $99,000 after acquiring an additional 1,965 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Rayonier Advanced Materials by 1.7% in the fourth quarter. Legal & General Group Plc now owns 135,658 shares of the basic materials company's stock worth $1,302,000 after acquiring an additional 2,290 shares during the last quarter. Advisor Partners II LLC raised its holdings in shares of Rayonier Advanced Materials by 16.8% in the fourth quarter. Advisor Partners II LLC now owns 17,612 shares of the basic materials company's stock worth $169,000 after acquiring an additional 2,534 shares during the last quarter. HRT Financial LP increased its stake in Rayonier Advanced Materials by 2.2% in the first quarter. HRT Financial LP now owns 121,408 shares of the basic materials company's stock valued at $761,000 after purchasing an additional 2,640 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Rayonier Advanced Materials in the fourth quarter valued at $31,000. 82.65% of the stock is owned by institutional investors and hedge funds.
RYAM has been the topic of a number of research reports. Bank of America dropped their price target on Rayonier Advanced Materials from $4.40 to $4.00 in a research note on Monday, July 10th. StockNews.com started coverage on Rayonier Advanced Materials in a research note on Thursday, May 18th. They set a "hold" rating on the stock. Finally, Royal Bank of Canada upgraded Rayonier Advanced Materials from a "sector perform" rating to an "outperform" rating and set a $7.00 target price on the stock in a research note on Thursday, May 11th.
Shares of Rayonier Advanced Materials stock traded up $0.52 during trading on Friday, reaching $5.26. The company's stock had a trading volume of 1,711,786 shares, compared to its average volume of 963,950. The company has a quick ratio of 1.32, a current ratio of 2.06 and a debt-to-equity ratio of 1.00. Rayonier Advanced Materials has a 12-month low of $2.84 and a 12-month high of $9.84. The company has a market capitalization of $342.53 million, a P/E ratio of 33.06 and a beta of 3.17. The business has a 50 day moving average price of $4.22 and a 200-day moving average price of $5.73.
Rayonier Advanced Materials (NYSE:RYAM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $467.00 million for the quarter. Rayonier Advanced Materials had a return on equity of 0.62% and a net margin of 0.71%. As a group, sell-side analysts anticipate that Rayonier Advanced Materials will post -0.14 EPS for the current year.
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.
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