Steelhead Partners Lowers stake in Resolute Forest Products Inc (RFP)

Resolute Forest Products Inc (RFP) : Steelhead Partners reduced its stake in Resolute Forest Products Inc by 3.29% during the most recent quarter end. The investment management company now holds a total of 3,972,260 shares of Resolute Forest Products Inc which is valued at $16,087,653 after selling 135,200 shares in Resolute Forest Products Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Resolute Forest Products Inc makes up approximately 25.64% of Steelhead Partners’s portfolio.

Other Hedge Funds, Including , Tower Research Capital (trc) boosted its stake in RFP in the latest quarter, The investment management firm added 1,693 additional shares and now holds a total of 2,760 shares of Resolute Forest Products Inc which is valued at $10,902. Sandy Spring Bank sold out all of its stake in RFP during the most recent quarter. The investment firm sold 1,350 shares of RFP which is valued $5,333.

Resolute Forest Products Inc (RFP) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $4.25 and reached the intraday high at $4.4. The bulls started the profit booking and pushed the shares to intraday low of $4.25. The trading session was marked by a volume range of 1,72,475 shares exchanging hands. The 52-week high of the shares is $8.41 and the 52-week low is $3.7. The market cap of the company stands at $385 M and there are 8,95,07,379 shares in public circulation.

On the company’s financial health, Resolute Forest Products Inc reported $0.21 EPS for the quarter, based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus estimate of $0.21. The company had revenue of $888.00 million for the quarter.The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Resolute Forest Products Inc. is a holding company. The Company is a forest products company which offers products including newsprint specialty papers market pulp and wood products. It owns or operates approximately 40 pulp and paper mills and wood products facilities in the United States Canada and South Korea and power generation assets in Canada. The Company operates through four segments: newsprint specialty papers market pulp and wood products. It also sells green power produced from renewable sources wood chips and other wood related products to customers located in Canada and the United States. The newsprint segment produces newsprint at 10 facilities in North America and one facility in South Korea. The specialty papers segment produces specialty papers at five facilities in North America. The market pulp segment produces market pulp at seven facilities in North America. The wood products segment operates 15 sawmills in Canada.

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