Private Management Group Inc. cut its holdings in shares of Resolute Forest Products (NYSE:RFP) (TSE:RFP) by 37.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,798 shares of the basic materials company’s stock after selling 48,930 shares during the quarter. Private Management Group Inc. owned about 0.09% of Resolute Forest Products worth $641,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in shares of Resolute Forest Products by 18.0% in the second quarter. BlackRock Inc. now owns 1,841,297 shares of the basic materials company’s stock valued at $19,057,000 after purchasing an additional 281,317 shares during the period. Northern Trust Corp lifted its stake in shares of Resolute Forest Products by 1.5% in the second quarter. Northern Trust Corp now owns 332,779 shares of the basic materials company’s stock worth $3,444,000 after buying an additional 5,007 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in shares of Resolute Forest Products in the third quarter worth about $182,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Resolute Forest Products in the third quarter worth about $6,692,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Resolute Forest Products by 35.4% in the third quarter. Russell Investments Group Ltd. now owns 600,211 shares of the basic materials company’s stock worth $7,933,000 after buying an additional 156,862 shares in the last quarter. Institutional investors own 92.46% of the company’s stock.

Shares of RFP stock opened at $8.52 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.59 and a debt-to-equity ratio of 0.36. Resolute Forest Products has a 12 month low of $7.27 and a 12 month high of $15.75. The stock has a market cap of $763.66 million, a price-to-earnings ratio of 4.29 and a beta of 1.23.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last issued its earnings results on Thursday, January 31st. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.48). Resolute Forest Products had a return on equity of 10.73% and a net margin of 6.26%. The firm had revenue of $932.00 million for the quarter.

In other Resolute Forest Products news, SVP John Lafave sold 12,500 shares of Resolute Forest Products stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $9.40, for a total transaction of $117,500.00. Following the transaction, the senior vice president now directly owns 87,556 shares of the company’s stock, valued at $823,026.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Several research firms have recently weighed in on RFP. TD Securities decreased their price target on shares of Resolute Forest Products from $10.50 to $9.50 and set a “hold” rating on the stock in a research note on Friday, February 1st. Royal Bank of Canada raised their price target on shares of Resolute Forest Products from $13.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Resolute Forest Products has an average rating of “Hold” and a consensus price target of $11.88.

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

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