California Public Employees Retirement System Sells 4,900 Shares of Resolute Forest Products Inc. (RFP)

California Public Employees Retirement System cut its position in shares of Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 359,800 shares of the basic materials company’s stock after selling 4,900 shares during the period. California Public Employees Retirement System owned about 0.40% of Resolute Forest Products worth $1,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ACR Alpine Capital Research LLC raised its position in shares of 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 worth $27,491,000 after buying an additional 736,609 shares during the period. Norges Bank purchased a new position in shares of Resolute Forest Products during the fourth quarter worth about $3,486,000. Acadian Asset Management LLC raised its position in shares of Resolute Forest Products by 530.0% in the first quarter. Acadian Asset Management LLC now owns 372,502 shares of the basic materials company’s stock worth $2,030,000 after buying an additional 313,373 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Resolute Forest Products during the fourth quarter worth about $903,000. Finally, Great West Life Assurance Co. Can raised its position in shares of Resolute Forest Products by 1.5% in the first quarter. Great West Life Assurance Co. Can now owns 3,985,542 shares of the basic materials company’s stock worth $21,518,000 after buying an additional 57,168 shares during the period. Institutional investors own 89.13% of the company’s stock.

Shares of Resolute Forest Products Inc. (NYSE:RFP) remained flat at $4.65 on Friday. The stock had a trading volume of 136,930 shares. Resolute Forest Products Inc. has a 52 week low of $3.70 and a 52 week high of $6.75. The company’s market cap is $419.90 million. The firm has a 50 day moving average price of $4.49 and a 200 day moving average price of $4.81.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last released its earnings results on Thursday, August 3rd. The basic materials company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.19. The company had revenue of $858 million for the quarter. Resolute Forest Products had a negative net margin of 4.33% and a negative return on equity of 0.96%. During the same quarter last year, the firm posted $0.07 earnings per share. On average, analysts predict that Resolute Forest Products Inc. will post ($0.13) EPS for the current year.

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A number of research analysts have recently issued reports on RFP shares. CIBC upgraded shares of Resolute Forest Products from a “sector underperform” rating to a “sector perform” rating in a research note on Monday, June 5th. TD Securities reiterated a “reduce” rating and set a $4.00 price target on shares of Resolute Forest Products in a research note on Friday, May 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $5.00 price target on shares of Resolute Forest Products in a research note on Tuesday, April 18th.

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.

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

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