Engineers Gate Manager LP Boosts Stake in Resolute Forest Products Common Stock (RFP)

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Engineers Gate Manager LP lifted its stake in Resolute Forest Products Common Stock (NYSE:RFP) (TSE:RFP) by 45.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,922 shares of the basic materials company’s stock after acquiring an additional 13,166 shares during the quarter. Engineers Gate Manager LP’s holdings in Resolute Forest Products Common Stock were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Verition Fund Management LLC acquired a new position in shares of Resolute Forest Products Common Stock in the first quarter worth $108,000. CAPROCK Group Inc. acquired a new position in shares of Resolute Forest Products Common Stock in the second quarter worth $137,000. Cambria Investment Management L.P. acquired a new position in shares of Resolute Forest Products Common Stock in the second quarter worth $311,000. Highbridge Capital Management LLC acquired a new position in Resolute Forest Products Common Stock during the first quarter worth $310,000. Finally, Element Capital Management LLC acquired a new position in Resolute Forest Products Common Stock during the first quarter worth $318,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Resolute Forest Products Common Stock stock opened at $13.15 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.28 and a current ratio of 2.52. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 9.28 and a beta of 1.41. Resolute Forest Products Common Stock has a one year low of $4.55 and a one year high of $13.25.

Resolute Forest Products Common Stock (NYSE:RFP) (TSE:RFP) last posted its earnings results on Thursday, August 2nd. The basic materials company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.04. The firm had revenue of $976.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Resolute Forest Products Common Stock had a net margin of 3.28% and a return on equity of 7.83%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share.

Several equities analysts have commented on RFP shares. CIBC raised shares of Resolute Forest Products Common Stock from a “neutral” rating to a “sector outperform” rating in a research report on Wednesday, July 11th. TheStreet raised shares of Resolute Forest Products Common Stock from a “c” rating to a “b-” rating in a research report on Friday, August 3rd. ValuEngine raised shares of Resolute Forest Products Common Stock from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Scotiabank raised shares of Resolute Forest Products Common Stock from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, May 23rd. Finally, Royal Bank of Canada increased their target price on shares of Resolute Forest Products Common Stock from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Resolute Forest Products Common Stock currently has a consensus rating of “Buy” and an average price target of $12.63.

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

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