Vanguard Group Inc. raised its stake in shares of Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) by 5.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,216,531 shares of the basic materials company’s stock after purchasing an additional 274,356 shares during the period. Vanguard Group Inc. owned 5.81% of Resolute Forest Products worth $22,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GSA Capital Partners LLP lifted its holdings in Resolute Forest Products by 50.2% during the second quarter. GSA Capital Partners LLP now owns 183,124 shares of the basic materials company’s stock valued at $806,000 after purchasing an additional 61,164 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Resolute Forest Products during the second quarter valued at $384,000. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Resolute Forest Products by 1.8% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,787 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 700 shares in the last quarter. ACR Alpine Capital Research LLC lifted its holdings in Resolute Forest Products by 2.5% during 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Resolute Forest Products by 100.3% during the second quarter. JPMorgan Chase & Co. now owns 46,424 shares of the basic materials company’s stock valued at $204,000 after purchasing an additional 23,247 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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

Resolute Forest Products Inc. (NYSE:RFP) opened at $9.00 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.20 and a current ratio of 2.44. Resolute Forest Products Inc. has a 52 week low of $3.95 and a 52 week high of $9.20.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.16. The firm had revenue of $885.00 million for the quarter. Resolute Forest Products had a negative net margin of 4.05% and a negative return on equity of 0.30%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share.

Several research firms have issued reports on RFP. Royal Bank Of Canada increased their price objective on shares of Resolute Forest Products from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Friday, November 3rd. Scotiabank raised their price target on shares of Resolute Forest Products from $5.25 to $7.75 and gave the stock an “underperform” rating in a research note on Friday, November 3rd. TD Securities raised shares of Resolute Forest Products from a “reduce” rating to a “hold” rating and raised their price target for the stock from $5.00 to $8.00 in a research note on Friday, November 3rd. CIBC raised shares of Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, November 3rd. Finally, BidaskClub raised shares of Resolute Forest Products from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $7.58.

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Resolute Forest Products Profile

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

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