ACR Alpine Capital Research LLC lessened its stake in Resolute Forest Products Inc (NYSE:RFP) (TSE:RFP) by 0.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,177,490 shares of the basic materials company’s stock after selling 21,308 shares during the quarter. Resolute Forest Products comprises about 2.3% of ACR Alpine Capital Research LLC’s holdings, making the stock its 14th largest holding. ACR Alpine Capital Research LLC owned 5.73% of Resolute Forest Products worth $42,973,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Resolute Forest Products by 4.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,903,907 shares of the basic materials company’s stock worth $14,664,000 after acquiring an additional 126,291 shares during the period. BlackRock Inc. grew its position in Resolute Forest Products by 5.8% in the fourth quarter. BlackRock Inc. now owns 1,576,067 shares of the basic materials company’s stock worth $17,416,000 after acquiring an additional 86,360 shares during the period. Renaissance Technologies LLC grew its position in Resolute Forest Products by 105.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,278,000 shares of the basic materials company’s stock worth $14,122,000 after acquiring an additional 654,700 shares during the period. Prescott Group Capital Management L.L.C. grew its position in Resolute Forest Products by 1,552.3% in the first quarter. Prescott Group Capital Management L.L.C. now owns 676,642 shares of the basic materials company’s stock worth $5,616,000 after acquiring an additional 635,691 shares during the period. Finally, Geode Capital Management LLC grew its position in Resolute Forest Products by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 595,642 shares of the basic materials company’s stock worth $6,581,000 after acquiring an additional 29,780 shares during the period. 88.22% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on RFP shares. ValuEngine upgraded Resolute Forest Products from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Sidoti assumed coverage on Resolute Forest Products in a research report on Tuesday, April 10th. They issued a “buy” rating and a $12.00 price objective for the company. TD Securities lowered their price target on Resolute Forest Products from $11.50 to $9.50 and set a “hold” rating for the company in a research report on Friday, February 2nd. Royal Bank of Canada lowered their price target on Resolute Forest Products from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Friday, February 2nd. Finally, Scotiabank restated a “sell” rating and set a $8.75 price target on shares of Resolute Forest Products in a research report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Resolute Forest Products has a consensus rating of “Hold” and a consensus target price of $10.06.
Resolute Forest Products opened at $10.40 on Friday, according to Marketbeat Ratings. Resolute Forest Products Inc has a 52 week low of $10.25 and a 52 week high of $10.35. The firm has a market cap of $922.34 million, a PE ratio of 15.94 and a beta of 1.56. The company has a quick ratio of 1.23, a current ratio of 2.43 and a debt-to-equity ratio of 0.48.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last released its quarterly earnings results on Thursday, May 3rd. The basic materials company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.19). Resolute Forest Products had a positive return on equity of 3.66% and a negative net margin of 0.77%. The firm had revenue of $874.00 million for the quarter, compared to analysts’ expectations of $913.80 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis.
About Resolute Forest Products
Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.
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