Janney Montgomery Scott LLC Purchases 12,514 Shares of Resolute Forest Products (RFP)

Janney Montgomery Scott LLC raised its position in Resolute Forest Products (NYSE:RFP) (TSE:RFP) by 20.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,811 shares of the basic materials company’s stock after acquiring an additional 12,514 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Resolute Forest Products were worth $583,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Virginia Retirement Systems ET AL increased its stake in shares of Resolute Forest Products by 21.6% in the 1st quarter. Virginia Retirement Systems ET AL now owns 18,600 shares of the basic materials company’s stock valued at $147,000 after purchasing an additional 3,300 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Resolute Forest Products by 18.4% in the 4th quarter. Deutsche Bank AG now owns 117,960 shares of the basic materials company’s stock valued at $935,000 after purchasing an additional 18,340 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Resolute Forest Products by 15.1% in the 4th quarter. Geode Capital Management LLC now owns 783,602 shares of the basic materials company’s stock valued at $6,213,000 after purchasing an additional 103,019 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Resolute Forest Products by 12.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,616,442 shares of the basic materials company’s stock valued at $36,608,000 after purchasing an additional 493,849 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Resolute Forest Products by 16.1% in the 4th quarter. Nordea Investment Management AB now owns 205,000 shares of the basic materials company’s stock valued at $1,626,000 after purchasing an additional 28,500 shares in the last quarter.

RFP stock opened at $6.51 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.54 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $604.13 million, a PE ratio of 3.16 and a beta of 1.20. Resolute Forest Products has a 1 year low of $6.38 and a 1 year high of $15.75.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $888.00 million. Resolute Forest Products had a net margin of 7.26% and a return on equity of 11.85%. Resolute Forest Products’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share.

Several equities research analysts have commented on RFP shares. TD Securities cut their price objective on Resolute Forest Products from $9.50 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. CIBC reiterated a “hold” rating and set a $12.00 price objective on shares of Resolute Forest Products in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $11.75.

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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 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.

Further Reading: Resistance Level

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

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