Ameriprise Financial Inc. reduced its position in Domtar Corporation (NYSE:UFS) (TSE:UFS) by 13.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,709 shares of the basic materials company’s stock after selling 54,632 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.56% of Domtar Corporation worth $13,441,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Domtar Corporation by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,610 shares of the basic materials company’s stock valued at $100,000 after buying an additional 320 shares during the period. LS Investment Advisors LLC lifted its stake in Domtar Corporation by 20.2% during the second quarter. LS Investment Advisors LLC now owns 5,143 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 866 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Domtar Corporation during the second quarter worth approximately $218,000. WBI Investments Inc. purchased a new stake in Domtar Corporation during the second quarter worth approximately $271,000. Finally, Advantus Capital Management Inc lifted its stake in Domtar Corporation by 3.0% during the first quarter. Advantus Capital Management Inc now owns 8,013 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 235 shares during the last quarter. 91.03% of the stock is owned by institutional investors.
In other Domtar Corporation news, insider Michael Fagan sold 4,154 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $41.40, for a total transaction of $171,975.60. Following the completion of the sale, the insider now owns 10,649 shares in the company, valued at approximately $440,868.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel Buron sold 4,900 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $40.10, for a total transaction of $196,490.00. Following the sale, the vice president now owns 15,126 shares of the company’s stock, valued at approximately $606,552.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,766 shares of company stock worth $569,809. Company insiders own 1.04% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research raised Domtar Corporation from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a research report on Thursday, October 5th. Citigroup Inc. reissued a “sell” rating and issued a $40.00 target price (down previously from $41.00) on shares of Domtar Corporation in a report on Thursday, October 5th. KeyCorp set a $33.00 target price on Domtar Corporation and gave the company a “sell” rating in a report on Thursday, October 12th. ValuEngine raised Domtar Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Finally, BidaskClub raised Domtar Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $42.25.
Shares of Domtar Corporation (UFS) opened at 44.04 on Tuesday. The stock has a market capitalization of $2.76 billion, a P/E ratio of 16.80 and a beta of 1.49. Domtar Corporation has a 12 month low of $33.99 and a 12 month high of $44.72. The stock has a 50 day moving average price of $42.26 and a 200 day moving average price of $38.99.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last announced its earnings results on Friday, July 28th. The basic materials company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.31 billion. Domtar Corporation had a return on equity of 6.47% and a net margin of 3.23%. Domtar Corporation’s revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. On average, analysts anticipate that Domtar Corporation will post $2.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 3.77%. The ex-dividend date was Friday, September 29th. Domtar Corporation’s dividend payout ratio is 63.36%.
About Domtar Corporation
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and absorbent hygiene products. The Company segments include Pulp and Paper and Personal Care. The Pulp and Paper segment consists of the design, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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