Acadian Asset Management LLC Raises Position in Resolute Forest Products (RFP)

Acadian Asset Management LLC raised its holdings in shares of Resolute Forest Products (NYSE:RFP) (TSE:RFP) by 1.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,543,768 shares of the basic materials company’s stock after purchasing an additional 30,713 shares during the quarter. Acadian Asset Management LLC’s holdings in Resolute Forest Products were worth $20,096,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Executive Wealth Management LLC purchased a new stake in shares of Resolute Forest Products in the 4th quarter valued at approximately $39,000. Prudential Financial Inc. purchased a new stake in shares of Resolute Forest Products in the 4th quarter valued at approximately $118,000. Ramsey Quantitative Systems lifted its position in shares of Resolute Forest Products by 28.2% in the 4th 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 in the last quarter. Virginia Retirement Systems ET AL lifted its position 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 acquiring an additional 3,300 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Resolute Forest Products in the 4th quarter valued at approximately $245,000.

RFP stock opened at $6.61 on Monday. Resolute Forest Products has a 12-month low of $6.37 and a 12-month high of $15.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.54 and a quick ratio of 1.27. The company has a market capitalization of $602.30 million, a price-to-earnings ratio of 3.16 and a beta of 1.20.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last released its 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). Resolute Forest Products had a return on equity of 11.85% and a net margin of 7.26%. The company had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $888.00 million. During the same quarter in the previous year, the company earned $0.18 EPS. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year.

RFP has been the subject of a number of research analyst reports. TD Securities cut their target price on shares of Resolute Forest Products from $9.50 to $9.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. CIBC reiterated a “hold” rating and issued a $12.00 target price on shares of Resolute Forest Products in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating, Resolute Forest Products has an average rating of “Hold” and a consensus target price 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.

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

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