Two Sigma Investments LP reduced its holdings in Resolute Forest Products (NYSE:RFP) (TSE:RFP) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,732 shares of the basic materials company’s stock after selling 37,975 shares during the quarter. Two Sigma Investments LP owned 0.40% of Resolute Forest Products worth $2,861,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in shares of Resolute Forest Products in the 3rd quarter worth approximately $190,000. Prudential Financial Inc. acquired a new stake in shares of Resolute Forest Products during the fourth quarter valued at approximately $118,000. Ramsey Quantitative Systems raised its holdings in shares of Resolute Forest Products by 28.2% during the fourth quarter. Ramsey Quantitative Systems now owns 18,046 shares of the basic materials company’s stock valued at $143,000 after acquiring an additional 3,973 shares during the period. Virtu Financial LLC acquired a new stake in shares of Resolute Forest Products during the third quarter valued at approximately $366,000. Finally, WINTON GROUP Ltd acquired a new position in Resolute Forest Products in the 4th quarter valued at approximately $245,000. Institutional investors and hedge funds own 90.99% of the company’s stock.
RFP has been the topic of several research reports. TD Securities dropped their price objective 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. CIBC reiterated a “hold” rating and issued a $12.00 price objective on shares of Resolute Forest Products in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.88.
RFP stock traded down $0.02 during trading hours on Friday, hitting $7.87. The company’s stock had a trading volume of 296,798 shares, compared to its average volume of 282,317. The company has a quick ratio of 1.22, a current ratio of 2.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $716.95 million, a price-to-earnings ratio of 4.02 and a beta of 1.22. Resolute Forest Products has a 12 month low of $7.27 and a 12 month high of $15.75.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its earnings results on Thursday, January 31st. The basic materials company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.48). The business had revenue of $932.00 million during the quarter. Resolute Forest Products had a return on equity of 11.00% and a net margin of 6.26%.
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Resolute Forest Products Company Profile
Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates through five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers virgin and recycled bleached Kraft used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.
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