Voya Investment Management LLC increased its stake in shares of Domtar Corporation (NYSE:UFS) (TSE:UFS) by 161.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,632 shares of the basic materials company’s stock after buying an additional 92,483 shares during the quarter. Voya Investment Management LLC owned about 0.24% of Domtar Corporation worth $5,748,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 buying an additional 320 shares in the last quarter. LS Investment Advisors LLC lifted its position 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 buying an additional 866 shares in the last quarter. Bridgewater Associates LP purchased a new position in Domtar Corporation during the second quarter worth approximately $200,000. Campbell & CO Investment Adviser LLC purchased a new position in Domtar Corporation during the second quarter worth approximately $218,000. Finally, WBI Investments Inc. purchased a new position in Domtar Corporation during the second quarter worth approximately $271,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
Shares of Domtar Corporation (UFS) opened at 43.32 on Wednesday. Domtar Corporation has a 1-year low of $33.99 and a 1-year high of $44.72. The firm has a market cap of $2.71 billion, a PE ratio of 16.52 and a beta of 1.49. The firm’s 50-day moving average price is $41.81 and its 200 day moving average price is $38.84.
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, topping the consensus estimate of $0.53 by $0.08. Domtar Corporation had a return on equity of 6.47% and a net margin of 3.23%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company posted $0.61 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. On average, equities research analysts forecast that Domtar Corporation will post $2.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.415 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.66 annualized dividend and a yield of 3.83%. Domtar Corporation’s dividend payout ratio is currently 63.36%.
In related news, VP Daniel Buron sold 4,900 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $40.10, for a total value of $196,490.00. Following the completion of the sale, the vice president now directly owns 15,126 shares in the company, valued at approximately $606,552.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Fagan sold 4,154 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $41.40, for a total value of $171,975.60. Following the completion of the sale, the insider now owns 10,649 shares of the company’s stock, valued at $440,868.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,766 shares of company stock valued at $569,809. 1.04% of the stock is owned by insiders.
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A number of brokerages recently commented on UFS. Citigroup Inc. reiterated a “sell” rating and set a $40.00 price objective (down previously from $41.00) on shares of Domtar Corporation in a research report on Thursday, October 5th. Zacks Investment Research raised Domtar Corporation from a “hold” rating to a “strong-buy” rating and set a $51.00 target price for the company in a research note on Thursday, October 5th. ValuEngine raised Domtar Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. BidaskClub raised Domtar Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Scotiabank cut 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $42.25.
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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