Shell Asset Management Co. Lowers Holdings in Resolute Forest Products Inc. (NYSE:RFP)

Shell Asset Management Co. trimmed its position in Resolute Forest Products Inc. (NYSE:RFPGet Rating) (TSE:RFP) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,936 shares of the basic materials company’s stock after selling 4,871 shares during the period. Shell Asset Management Co.’s holdings in Resolute Forest Products were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its position in Resolute Forest Products by 10.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 13,523 shares of the basic materials company’s stock valued at $204,000 after buying an additional 1,242 shares during the last quarter. Lazard Asset Management LLC grew its position in Resolute Forest Products by 15.1% in the 4th quarter. Lazard Asset Management LLC now owns 11,994 shares of the basic materials company’s stock valued at $183,000 after buying an additional 1,576 shares during the last quarter. Byrne Asset Management LLC purchased a new position in Resolute Forest Products in the 4th quarter valued at $30,000. Confluence Wealth Services Inc. purchased a new position in Resolute Forest Products in the 4th quarter valued at $43,000. Finally, CWM LLC purchased a new position in Resolute Forest Products in the 4th quarter valued at $53,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. TheStreet upgraded shares of Resolute Forest Products from a “c+” rating to a “b-” rating in a research report on Monday, May 9th. TD Securities lowered shares of Resolute Forest Products from a “buy” rating to a “hold” rating and boosted their target price for the stock from $16.00 to $23.00 in a research report on Thursday, July 7th. Finally, Royal Bank of Canada boosted their target price on shares of Resolute Forest Products from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, May 6th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Resolute Forest Products Trading Down 1.2 %

NYSE:RFP opened at $20.21 on Friday. The company has a market capitalization of $1.55 billion, a PE ratio of 3.76 and a beta of 2.94. The company has a quick ratio of 1.27, a current ratio of 2.59 and a debt-to-equity ratio of 0.17. Resolute Forest Products Inc. has a 52-week low of $9.84 and a 52-week high of $20.71. The stock has a fifty day simple moving average of $16.78 and a 200-day simple moving average of $14.52.

Resolute Forest Products (NYSE:RFPGet Rating) (TSE:RFP) last released its quarterly earnings results on Thursday, May 5th. The basic materials company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $945.00 million during the quarter. Resolute Forest Products had a return on equity of 37.97% and a net margin of 11.51%.

Resolute Forest Products Company Profile

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Resolute Forest Products Inc, together with its subsidiaries, operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates through four segments: Market Pulp, Tissue, Wood Products, and Paper. The Market Pulp segment offers virgin and recycled bleached Kraft pulp, which is 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 (NYSE:RFP)

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