Boston Private Wealth LLC Sells 5,555 Shares of Resolute Forest Products Inc. (NYSE:RFP)

Boston Private Wealth LLC reduced its position in shares of Resolute Forest Products Inc. (NYSE:RFP) (TSE:RFP) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,007 shares of the basic materials company’s stock after selling 5,555 shares during the period. Boston Private Wealth LLC’s holdings in Resolute Forest Products were worth $297,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Resolute Forest Products by 160.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,085 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 2,515 shares during the period. M&G Investment Management Ltd. bought a new stake in Resolute Forest Products in the 2nd quarter valued at $1,359,000. Susquehanna Fundamental Investments LLC bought a new stake in Resolute Forest Products in the 2nd quarter valued at $157,000. State Street Corp boosted its holdings in Resolute Forest Products by 295.7% in the 2nd quarter. State Street Corp now owns 315,021 shares of the basic materials company’s stock valued at $4,157,000 after purchasing an additional 235,418 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in Resolute Forest Products in the 2nd quarter valued at $578,000. 85.68% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on RFP. CIBC raised shares of Resolute Forest Products from a “neutral” rating to an “outperform” rating and increased their price target for the company from $14.00 to $19.00 in a report on Monday, January 10th. Royal Bank of Canada reduced their price target on shares of Resolute Forest Products from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, November 5th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.00.

Shares of RFP stock opened at $16.05 on Friday. Resolute Forest Products Inc. has a 52-week low of $7.20 and a 52-week high of $17.65. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 3.37 and a beta of 3.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.15 and a current ratio of 2.29. The firm has a fifty day moving average of $13.09 and a 200-day moving average of $12.39.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last announced its quarterly earnings data on Thursday, November 4th. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). Resolute Forest Products had a net margin of 10.64% and a return on equity of 41.48%. The business had revenue of $817.00 million during the quarter.

Resolute Forest Products Company Profile

Resolute Forest Products, Inc engages in the production and sale of forest products. It operates through the following segments: Market Pulp, Tissue, Wood Products, Newsprint, Specialty Papers, and Corporate and Other. The company was founded on January 25, 2007 and is headquartered in Montreal, Canada.

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

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