Resolute Forest Products Inc. (RFP) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 0.40% of Resolute Forest Products worth $1,961,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RFP. ACR Alpine Capital Research LLC raised its stake 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 in the last quarter. Great West Life Assurance Co. Can raised its stake 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Resolute Forest Products by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,392,604 shares of the basic materials company’s stock worth $12,801,000 after buying an additional 25,457 shares in the last quarter. Norges Bank acquired a new stake in shares of Resolute Forest Products during the fourth quarter worth $3,486,000. Finally, Acadian Asset Management LLC raised its stake 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 in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Resolute Forest Products Inc. (NYSE RFP) opened at 4.65 on Friday. Resolute Forest Products Inc. has a 1-year low of $3.70 and a 1-year high of $6.75. The stock has a 50 day moving average price of $4.55 and a 200-day moving average price of $4.78. The stock’s market cap is $417.34 million.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last announced its quarterly earnings data 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. Resolute Forest Products had a negative return on equity of 0.98% and a negative net margin of 4.33%. The firm had revenue of $858 million during the quarter. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, equities analysts expect that Resolute Forest Products Inc. will post ($0.13) EPS for the current year.

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A number of equities research analysts have recently weighed in on the company. CIBC upgraded Resolute Forest Products from a “sector underperform” rating to a “sector perform” rating in a research report on Monday, June 5th. Royal Bank Of Canada reiterated a “hold” rating and issued a $5.00 price objective on shares of Resolute Forest Products in a research report on Tuesday, May 23rd. Finally, TD Securities reiterated a “reduce” rating and issued a $4.00 price objective on shares of Resolute Forest Products in a research report on Monday, May 15th.

About Resolute Forest Products

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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