The Virginia Retirement Systems ET AL Acquires 66,400 Shares of Resolute Forest Products Inc. (RFP)

The Virginia Retirement Systems ET AL Acquires 66,400  Shares of Resolute Forest Products Inc. (RFP)

Virginia Retirement Systems ET AL bought a new stake in shares of Resolute Forest Products Inc. (NYSE:RFP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 66,400 shares of the company’s stock, valued at approximately $351,000. Virginia Retirement Systems ET AL owned 0.07% of Resolute Forest Products as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Alpine Investment Management LLC increased its position in Resolute Forest Products by 11.5% in the second quarter. Alpine Investment Management LLC now owns 5,438,914 shares of the company’s stock valued at $28,772,000 after buying an additional 560,048 shares during the last quarter. Chou Associates Management Inc. increased its position in Resolute Forest Products by 4.2% in the first quarter. Chou Associates Management Inc. now owns 4,904,752 shares of the company’s stock valued at $27,061,000 after buying an additional 199,843 shares during the last quarter. Vanguard Group Inc. increased its position in Resolute Forest Products by 4.3% in the second quarter. Vanguard Group Inc. now owns 4,640,515 shares of the company’s stock valued at $24,548,000 after buying an additional 189,971 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Resolute Forest Products by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 630,160 shares of the company’s stock valued at $3,472,000 after buying an additional 65,453 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Resolute Forest Products by 8.2% in the second quarter. California Public Employees Retirement System now owns 488,800 shares of the company’s stock valued at $2,586,000 after buying an additional 37,100 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Shares of Resolute Forest Products Inc. (NYSE:RFP) opened at 4.85 on Friday. The company’s 50-day moving average price is $5.21 and its 200-day moving average price is $5.48. The firm’s market cap is $434.11 million. Resolute Forest Products Inc. has a 12 month low of $3.79 and a 12 month high of $10.49.

Resolute Forest Products (NYSE:RFP) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. Resolute Forest Products had a negative net margin of 7.57% and a negative return on equity of 1.22%. The business had revenue of $891 million for the quarter, compared to analysts’ expectations of $934 million. During the same quarter last year, the firm earned $0.07 EPS. On average, analysts predict that Resolute Forest Products Inc. will post $0.01 EPS for the current year.

Several equities analysts have recently commented on RFP shares. TD Securities reaffirmed a “reduce” rating and issued a $5.00 target price (up previously from $4.75) on shares of Resolute Forest Products in a research report on Wednesday, August 10th. Zacks Investment Research raised Resolute Forest Products from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a research report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $7.03.

Resolute Forest Products Company Profile

Resolute Forest Products Inc offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. The Company owns or operates over 40 pulp, paper, tissue and wood products facilities in the United States, Canada and South Korea, as well as power generation assets in Canada.

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