Lazard Asset Management LLC Has $285,000 Holdings in Resolute Forest Products Inc. (NYSE:RFP)

Lazard Asset Management LLC boosted its position in Resolute Forest Products Inc. (NYSE:RFPGet Rating) (TSE:RFP) by 86.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,364 shares of the basic materials company’s stock after buying an additional 10,341 shares during the quarter. Lazard Asset Management LLC’s holdings in Resolute Forest Products were worth $285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Metis Global Partners LLC acquired a new stake in Resolute Forest Products in the 1st quarter worth $289,000. Envestnet Asset Management Inc. grew its position in Resolute Forest Products by 5.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 98,880 shares of the basic materials company’s stock worth $1,277,000 after purchasing an additional 5,483 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in Resolute Forest Products in the 1st quarter worth $1,951,000. National Bank of Canada FI grew its position in Resolute Forest Products by 12.2% in the 1st quarter. National Bank of Canada FI now owns 34,046 shares of the basic materials company’s stock worth $439,000 after purchasing an additional 3,693 shares during the last quarter. Finally, Leverage Partners Absolute Return Fund SPC acquired a new stake in Resolute Forest Products in the 1st quarter worth $664,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Royal Bank of Canada lowered shares of Resolute Forest Products from an “outperform” rating to a “sector perform” rating and set a $23.00 price target on the stock. in a research report on Tuesday, October 18th. StockNews.com upgraded shares of Resolute Forest Products from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 7th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Resolute Forest Products Price Performance

NYSE:RFP opened at $21.19 on Friday. The company has a 50-day moving average of $20.61 and a 200-day moving average of $18.46. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 3.90 and a beta of 2.67. Resolute Forest Products Inc. has a 52 week low of $11.00 and a 52 week high of $21.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.70 and a current ratio of 2.91.

About Resolute Forest Products

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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.

See Also

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

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