Ameriprise Financial Inc. bought a new position in shares of Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 87,290 shares of the basic materials company’s stock, valued at approximately $384,000. Ameriprise Financial Inc. owned approximately 0.10% of Resolute Forest Products as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ACR Alpine Capital Research LLC grew its holdings in shares of Resolute Forest Products by 2.5% in the second quarter. ACR Alpine Capital Research LLC now owns 5,170,696 shares of the basic materials company’s stock valued at $22,751,000 after purchasing an additional 126,441 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Resolute Forest Products by 29.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 521,226 shares of the basic materials company’s stock valued at $2,841,000 after purchasing an additional 119,102 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Resolute Forest Products by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,568,151 shares of the basic materials company’s stock valued at $13,996,000 after purchasing an additional 175,547 shares during the period. Geode Capital Management LLC grew its holdings in shares of Resolute Forest Products by 2.8% in the first quarter. Geode Capital Management LLC now owns 518,984 shares of the basic materials company’s stock valued at $2,828,000 after purchasing an additional 14,019 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Resolute Forest Products by 8.0% in the second quarter. Acadian Asset Management LLC now owns 402,374 shares of the basic materials company’s stock valued at $1,770,000 after purchasing an additional 29,872 shares during the period. 87.50% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.watchlistnews.com/ameriprise-financial-inc-buys-new-holdings-in-resolute-forest-products-inc-rfp/1703965.html.

A number of research analysts have commented on RFP shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $6.00 target price on shares of Resolute Forest Products in a research report on Friday, October 20th. Scotiabank upped their target price on shares of Resolute Forest Products from $5.25 to $7.75 and gave the company an “underperform” rating in a research report on Friday, November 3rd. TD Securities raised shares of Resolute Forest Products from a “reduce” rating to a “hold” rating and upped their target price for the company from $5.00 to $8.00 in a research report on Friday, November 3rd. CIBC raised shares of Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, November 3rd. Finally, BidaskClub raised shares of Resolute Forest Products from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $7.58.

In other news, insider Jacques P. Vachon sold 15,300 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $8.52, for a total transaction of $130,356.00. Following the sale, the insider now owns 108,260 shares of the company’s stock, valued at $922,375.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Silvana Travaglini sold 6,355 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $8.80, for a total transaction of $55,924.00. Following the sale, the vice president now directly owns 30,342 shares in the company, valued at approximately $267,009.60. The disclosure for this sale can be found here. Insiders have sold 42,455 shares of company stock worth $356,632 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Resolute Forest Products Inc. (NYSE RFP) opened at $8.95 on Wednesday. Resolute Forest Products Inc. has a 1 year low of $4.05 and a 1 year high of $9.20. The company has a quick ratio of 1.20, a current ratio of 2.44 and a debt-to-equity ratio of 0.51.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its earnings results on Thursday, November 2nd. The basic materials company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. Resolute Forest Products had a negative net margin of 4.05% and a negative return on equity of 0.30%. The company had revenue of $885.00 million for the quarter. During the same period in the previous year, the company earned $0.17 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year.

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.

Want to see what other hedge funds are holding RFP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP).

Institutional Ownership by Quarter for Resolute Forest Products (NYSE:RFP)

Receive News & Ratings for Resolute Forest Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resolute Forest Products Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.