Twin Capital Management Inc. decreased its holdings in shares of Domtar Corp (NYSE:UFS) (TSE:UFS) by 8.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,580 shares of the basic materials company’s stock after selling 13,540 shares during the quarter. Twin Capital Management Inc. owned about 0.23% of Domtar worth $6,572,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of UFS. Norges Bank acquired a new stake in Domtar during the fourth quarter worth $30,536,000. Dimensional Fund Advisors LP increased its stake in Domtar by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,163,540 shares of the basic materials company’s stock worth $181,395,000 after acquiring an additional 145,552 shares during the last quarter. First Trust Advisors LP increased its stake in Domtar by 139.7% during the second quarter. First Trust Advisors LP now owns 204,192 shares of the basic materials company’s stock worth $9,093,000 after acquiring an additional 118,995 shares during the last quarter. Citigroup Inc. increased its stake in Domtar by 67.4% during the first quarter. Citigroup Inc. now owns 248,064 shares of the basic materials company’s stock worth $12,316,000 after acquiring an additional 99,901 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Domtar by 14.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 615,795 shares of the basic materials company’s stock worth $30,573,000 after acquiring an additional 77,779 shares during the last quarter. 94.10% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the company. TheStreet cut Domtar from a “b” rating to a “c+” rating in a research note on Thursday, August 1st. Stephens set a $53.00 price target on Domtar and gave the stock a “buy” rating in a research report on Friday, June 28th. Vertical Research lowered Domtar from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Vertical Group lowered Domtar from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Raymond James lowered their price target on Domtar from $48.00 to $45.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $50.31.
Domtar (NYSE:UFS) (TSE:UFS) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.30). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Domtar had a net margin of 5.21% and a return on equity of 12.48%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.65 earnings per share. As a group, equities research analysts predict that Domtar Corp will post 3.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a $0.455 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.82 dividend on an annualized basis and a yield of 5.42%. Domtar’s dividend payout ratio (DPR) is presently 39.48%.
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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