Advisors Asset Management Inc. reduced its stake in Domtar Corp (NYSE:UFS) (TSE:UFS) by 99.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,744 shares of the basic materials company’s stock after selling 633,556 shares during the period. Advisors Asset Management Inc.’s holdings in Domtar were worth $25,345,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd raised its stake in Domtar by 3,432.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,568 shares of the basic materials company’s stock worth $152,000 after buying an additional 3,467 shares in the last quarter. Bank of Hawaii bought a new position in Domtar in the second quarter worth about $201,000. World Asset Management Inc bought a new position in Domtar in the second quarter worth about $211,000. Capital Fund Management S.A. bought a new position in Domtar in the second quarter worth about $235,000. Finally, LPL Financial LLC bought a new position in Domtar in the first quarter worth about $213,000. 93.32% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on UFS shares. Zacks Investment Research downgraded shares of Domtar from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. KeyCorp raised shares of Domtar from an “underweight” rating to a “sector weight” rating in a research note on Wednesday, August 1st. Citigroup increased their price target on shares of Domtar from $41.00 to $44.00 and gave the stock a “sell” rating in a research note on Tuesday, July 10th. Vertical Group downgraded shares of Domtar from a “buy” rating to a “hold” rating and set a $54.00 price target for the company. in a research note on Thursday. They noted that the move was a valuation call. Finally, National Bank Financial increased their price target on shares of Domtar from $45.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Monday, July 30th. Thirteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Domtar currently has an average rating of “Hold” and a consensus price target of $47.21.
Shares of NYSE UFS opened at $53.55 on Monday. Domtar Corp has a fifty-two week low of $40.72 and a fifty-two week high of $53.66. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.77 and a beta of 1.65. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.45.
Domtar (NYSE:UFS) (TSE:UFS) last announced its earnings results on Wednesday, August 1st. The basic materials company reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.12). Domtar had a negative net margin of 3.25% and a positive return on equity of 7.79%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $0.61 EPS. Domtar’s revenue for the quarter was up 10.5% on a year-over-year basis. sell-side analysts anticipate that Domtar Corp will post 3.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Tuesday, October 2nd will be paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Monday, October 1st. Domtar’s dividend payout ratio is 66.92%.
Domtar Corporation designs, manufactures, markets, and distributes various communication papers, specialty and packaging papers, and absorbent hygiene products in the United States, Canada, Europe, Asia, and internationally. It operates in two segments, Pulp and Paper, and Personal Care. The company offers business papers, including copy and electronic imaging papers for use with inkjet and laser printers, photocopiers, and plain-paper fax machines, as well as computer papers, preprinted forms, and digital papers for office and home use.
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