ACR Alpine Capital Research LLC increased its stake in shares of Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) by 17.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,044,255 shares of the basic materials company’s stock after buying an additional 736,609 shares during the period. Resolute Forest Products comprises 2.4% of ACR Alpine Capital Research LLC’s portfolio, making the stock its 13th largest position. ACR Alpine Capital Research LLC owned 5.62% of Resolute Forest Products worth $27,491,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in RFP. Norges Bank bought a new stake in shares of Resolute Forest Products during the fourth quarter valued at about $3,486,000. Acadian Asset Management LLC increased its stake in Resolute Forest Products by 530.0% in the first quarter. Acadian Asset Management LLC now owns 372,502 shares of the basic materials company’s stock valued at $2,030,000 after buying an additional 313,373 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Resolute Forest Products during the fourth quarter valued at approximately $903,000. PEAK6 Investments L.P. acquired a new stake in Resolute Forest Products during the fourth quarter valued at approximately $820,000. Finally, Two Sigma Investments LP acquired a new stake in Resolute Forest Products during the fourth quarter valued at approximately $771,000. 89.18% of the stock is currently owned by institutional investors.
Resolute Forest Products Inc. (NYSE:RFP) traded up 3.37% during mid-day trading on Friday, hitting $4.60. 279,196 shares of the stock traded hands. The firm’s market cap is $412.85 million. Resolute Forest Products Inc. has a 52-week low of $3.70 and a 52-week high of $6.75. The firm’s 50-day moving average is $4.86 and its 200 day moving average is $4.95.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last released its quarterly earnings results on Thursday, May 4th. The basic materials company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.46. Resolute Forest Products had a negative net margin of 3.39% and a negative return on equity of 0.44%. The business had revenue of $872 million during the quarter. During the same period in the previous year, the business posted ($0.20) EPS. The business’s revenue was down .6% compared to the same quarter last year. Equities analysts predict that Resolute Forest Products Inc. will post ($0.05) EPS for the current fiscal year.
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RFP has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated a “hold” rating and issued a $5.00 price target on shares of Resolute Forest Products in a research report on Tuesday, April 18th. TD Securities reiterated a “reduce” rating and set a $4.00 target price on shares of Resolute Forest Products in a research report on Friday, May 5th. Finally, CIBC upgraded shares of Resolute Forest Products from a “sector underperform” rating to a “sector perform” rating in a research report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $5.06.
About Resolute Forest Products
Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.
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