California Public Employees Retirement System decreased its holdings in shares of Domtar Corporation (NYSE:UFS) (TSE:UFS) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 251,116 shares of the basic materials company’s stock after selling 9,100 shares during the quarter. California Public Employees Retirement System owned approximately 0.40% of Domtar Corporation worth $9,648,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Domtar Corporation by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,610 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 320 shares during the period. LS Investment Advisors LLC grew its holdings 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 acquiring an additional 866 shares during the period. Bridgewater Associates LP acquired a new position in Domtar Corporation during the second quarter worth $200,000. Campbell & CO Investment Adviser LLC acquired a new position in Domtar Corporation during the second quarter worth $218,000. Finally, WBI Investments Inc. purchased a new stake in Domtar Corporation during the second quarter worth $271,000. 91.03% of the stock is currently owned by institutional investors.
In related news, insider Michael Dennis Garcia sold 4,712 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.73, for a total transaction of $201,343.76. Following the transaction, the insider now directly owns 4,712 shares in the company, valued at $201,343.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel Buron sold 4,900 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $40.10, for a total transaction of $196,490.00. Following the transaction, the vice president now owns 15,126 shares in the company, valued at $606,552.60. The disclosure for this sale can be found here. Insiders have sold 13,766 shares of company stock valued at $569,809 in the last three months. 1.04% of the stock is owned by insiders.
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A number of analysts have commented on UFS shares. ValuEngine upgraded Domtar Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Vertical Research restated a “buy” rating on shares of Domtar Corporation in a research report on Friday, July 28th. BidaskClub upgraded Domtar Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered Domtar Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Scotiabank dropped their target price on Domtar Corporation from $40.50 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Domtar Corporation currently has a consensus rating of “Hold” and an average target price of $42.25.
Domtar Corporation (NYSE UFS) opened at 43.93 on Wednesday. Domtar Corporation has a 12 month low of $33.99 and a 12 month high of $44.72. The firm has a market capitalization of $2.75 billion, a PE ratio of 16.75 and a beta of 1.49. The stock’s 50 day moving average price is $42.26 and its 200 day moving average price is $38.99.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last issued its earnings results on Friday, July 28th. The basic materials company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.31 billion. Domtar Corporation had a net margin of 3.23% and a return on equity of 6.47%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. Equities research analysts expect that Domtar Corporation will post $2.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were paid a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Friday, September 29th. Domtar Corporation’s dividend payout ratio is presently 63.36%.
Domtar Corporation Profile
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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