Virginia Retirement Systems ET AL continued to hold its stake in Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,400 shares of the basic materials company’s stock at the close of the 2nd quarter. Virginia Retirement Systems ET AL owned approximately 0.07% of Resolute Forest Products worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Donald Smith & CO. Inc. lifted its stake in Resolute Forest Products by 6.4% in the first quarter. Donald Smith & CO. Inc. now owns 8,040,396 shares of the basic materials company’s stock valued at $43,820,000 after buying an additional 486,369 shares during the last quarter. ACR Alpine Capital Research LLC lifted its stake in Resolute Forest Products by 17.1% in the first quarter. ACR Alpine Capital Research LLC now owns 5,044,255 shares of the basic materials company’s stock valued at $27,491,000 after buying an additional 736,609 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Resolute Forest Products by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 4,092,509 shares of the basic materials company’s stock valued at $17,796,000 after buying an additional 106,967 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Resolute Forest Products by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,568,151 shares of the basic materials company’s stock valued at $13,996,000 after buying an additional 175,547 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Resolute Forest Products in the first quarter valued at approximately $9,806,000. Institutional investors own 87.76% of the company’s stock.

Resolute Forest Products Inc. (NYSE RFP) opened at 5.10 on Monday. The company’s 50-day moving average price is $4.77 and its 200-day moving average price is $4.80. Resolute Forest Products Inc. has a one year low of $3.70 and a one year high of $6.75. The firm’s market cap is $457.73 million.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.19. The company had revenue of $858 million during the quarter. Resolute Forest Products had a negative return on equity of 0.98% and a negative net margin of 4.33%. During the same quarter last year, the business posted $0.07 earnings per share. On average, analysts anticipate that Resolute Forest Products Inc. will post ($0.13) EPS for the current year.

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RFP has been the subject of several analyst reports. CIBC upgraded Resolute Forest Products from a “sector underperform” rating to a “sector perform” rating in a research note on Monday, June 5th. Royal Bank Of Canada restated a “hold” rating and set a $5.00 price target on shares of Resolute Forest Products in a research note on Tuesday, May 23rd. TD Securities restated a “reduce” rating and set a $4.00 price target on shares of Resolute Forest Products in a research note on Monday, May 15th. Finally, BidaskClub upgraded Resolute Forest Products from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $4.67.

Resolute Forest Products Company 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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