Bank of America Corp DE increased its position in Domtar Corporation (NYSE:UFS) (TSE:UFS) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,619 shares of the basic materials company’s stock after buying an additional 7,613 shares during the period. Bank of America Corp DE owned approximately 0.45% of Domtar Corporation worth $10,395,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in UFS. BlackRock Inc. raised its position in shares of Domtar Corporation by 8,753.9% in the first quarter. BlackRock Inc. now owns 10,377,062 shares of the basic materials company’s stock worth $378,971,000 after buying an additional 10,259,859 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Domtar Corporation by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,288,590 shares of the basic materials company’s stock worth $193,139,000 after buying an additional 36,676 shares during the last quarter. Fairpointe Capital LLC raised its position in shares of Domtar Corporation by 29.7% in the first quarter. Fairpointe Capital LLC now owns 3,664,354 shares of the basic materials company’s stock worth $133,822,000 after buying an additional 839,266 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Domtar Corporation by 31.0% in the first quarter. Advisors Asset Management Inc. now owns 682,107 shares of the basic materials company’s stock worth $24,911,000 after buying an additional 161,497 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Domtar Corporation during the fourth quarter worth $23,553,000. 85.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Domtar Corporation (NYSE UFS) opened at 39.22 on Friday. The company has a market capitalization of $2.46 billion, a PE ratio of 17.05 and a beta of 1.49. Domtar Corporation has a 12 month low of $33.99 and a 12 month high of $44.58. The firm’s 50-day moving average is $37.69 and its 200 day moving average is $38.53.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last issued its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Domtar Corporation had a net margin of 2.82% and a return on equity of 6.50%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. Equities research analysts predict that Domtar Corporation will post $2.71 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were given a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Thursday, June 29th. Domtar Corporation’s payout ratio is currently 72.17%.
A number of equities analysts recently weighed in on UFS shares. ValuEngine lowered shares of Domtar Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. CIBC raised shares of Domtar Corporation from a “sector underperform” rating to a “sector perform” rating in a research note on Monday, June 5th. BidaskClub raised shares of Domtar Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. DA Davidson reaffirmed an “underperform” rating and issued a $32.00 target price (down from $35.00) on shares of Domtar Corporation in a research note on Wednesday, March 29th. Finally, Zacks Investment Research lowered shares of Domtar Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $41.25.
In related news, insider Michael Dennis Garcia sold 15,628 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $38.80, for a total transaction of $606,366.40. Following the transaction, the insider now directly owns 3,290 shares of the company’s stock, valued at $127,652. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Fagan sold 7,507 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $39.60, for a total transaction of $297,277.20. Following the transaction, the insider now directly owns 14,002 shares in the company, valued at $554,479.20. The disclosure for this sale can be found here. Insiders have sold 26,269 shares of company stock worth $1,027,531 over the last three months. 1.04% of the stock is owned by insiders.
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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