Robeco Institutional Asset Management B.V. acquired a new position in Resolute Forest Products (NYSE:RFP) (TSE:RFP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 516,759 shares of the basic materials company’s stock, valued at approximately $6,692,000. Robeco Institutional Asset Management B.V. owned approximately 0.57% of Resolute Forest Products at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Paloma Partners Management Co bought a new stake in shares of Resolute Forest Products in the 2nd quarter valued at about $130,000. CAPROCK Group Inc. bought a new stake in shares of Resolute Forest Products in the 2nd quarter valued at about $137,000. Ramsey Quantitative Systems bought a new stake in shares of Resolute Forest Products in the 3rd quarter valued at about $182,000. Cubist Systematic Strategies LLC lifted its stake in shares of Resolute Forest Products by 40.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,446 shares of the basic materials company’s stock valued at $201,000 after acquiring an additional 5,634 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Resolute Forest Products in the 2nd quarter valued at about $217,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. CIBC lowered Resolute Forest Products from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, September 19th. Royal Bank of Canada boosted their target price on Resolute Forest Products from $13.00 to $14.00 and gave the company a “sector perform” rating in a research note on Friday. TD Securities lowered their target price on Resolute Forest Products from $14.00 to $13.50 and set a “hold” rating for the company in a research note on Friday. TheStreet raised Resolute Forest Products from a “c” rating to a “b-” rating in a research note on Friday, August 3rd. Finally, Scotiabank reissued a “hold” rating and issued a $12.00 target price on shares of Resolute Forest Products in a research note on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.88.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last released its quarterly earnings results on Thursday, November 1st. The basic materials company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.34. The business had revenue of $974.00 million during the quarter. Resolute Forest Products had a return on equity of 11.80% and a net margin of 5.70%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS.
Resolute Forest Products Profile
Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.
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