Virginia Retirement Systems ET AL boosted its position in shares of Domtar Corporation (NYSE:UFS) (TSE:UFS) by 70.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,100 shares of the basic materials company’s stock after buying an additional 27,300 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.11% of Domtar Corporation worth $2,414,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in UFS. Kernodle & Katon Asset Management Group LLC bought a new position in shares of Domtar Corporation during the third quarter worth approximately $168,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Domtar Corporation during the fourth quarter worth approximately $202,000. Parkwood LLC bought a new position in shares of Domtar Corporation during the first quarter worth approximately $220,000. Dodge & Cox bought a new position in shares of Domtar Corporation during the fourth quarter worth approximately $242,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Domtar Corporation during the fourth quarter worth approximately $261,000. 86.34% of the stock is owned by institutional investors and hedge funds.
Shares of Domtar Corporation (NYSE UFS) opened at 36.99 on Friday. Domtar Corporation has a 12-month low of $32.74 and a 12-month high of $44.58. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 16.08 and a beta of 1.45. The firm has a 50-day moving average of $37.35 and a 200 day moving average of $38.83.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last issued its earnings results on Thursday, April 27th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.25 billion. Domtar Corporation had a net margin of 2.82% and a return on equity of 6.50%. Domtar Corporation’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. On average, equities research analysts expect that Domtar Corporation will post $2.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, June 29th. Domtar Corporation’s dividend payout ratio is presently 72.17%.
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Several research analysts recently issued reports on the stock. Scotiabank increased their price target on shares of Domtar Corporation from $38.50 to $40.50 and gave the stock a “sector perform” rating in a research report on Friday, April 28th. TD Securities reissued a “hold” rating and issued a $42.00 price target on shares of Domtar Corporation in a research report on Friday, April 28th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Domtar Corporation in a research note on Friday, April 28th. Bank of America Corporation reaffirmed a “buy” rating and set a $48.00 price objective (up from $47.00) on shares of Domtar Corporation in a research note on Wednesday, February 22nd. Finally, ValuEngine cut shares of Domtar Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.17.
In other Domtar Corporation news, SVP Zygmunt Jablonski sold 3,134 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $39.53, for a total transaction of $123,887.02. Following the transaction, the senior vice president now owns 19,604 shares in the company, valued at $774,946.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael Dennis Garcia sold 15,628 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $38.80, for a total transaction of $606,366.40. Following the transaction, the insider now owns 3,290 shares in the company, valued at approximately $127,652. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,269 shares of company stock worth $1,027,531. 1.04% of the stock is owned by insiders.
Domtar Corporation Company 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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