First Trust Advisors LP trimmed its holdings in Domtar Corp (NYSE:UFS) (TSE:UFS) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 347,688 shares of the basic materials company’s stock after selling 6,000 shares during the period. First Trust Advisors LP’s holdings in Domtar were worth $17,218,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. boosted its stake in Domtar by 138.5% in the 4th quarter. Meeder Asset Management Inc. now owns 2,459 shares of the basic materials company’s stock worth $121,000 after buying an additional 1,428 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Domtar by 176.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,905 shares of the basic materials company’s stock worth $126,000 after buying an additional 1,853 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Domtar by 41.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,680 shares of the basic materials company’s stock worth $182,000 after buying an additional 1,070 shares during the last quarter. Shelton Capital Management acquired a new position in shares of Domtar in the 3rd quarter valued at about $206,000. Finally, Oakbrook Investments LLC acquired a new position in shares of Domtar in the 4th quarter valued at about $243,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on UFS. Zacks Investment Research lowered Domtar from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. TheStreet lowered Domtar from an “a-” rating to a “c+” rating in a research note on Friday, February 9th. Vertical Group raised Domtar from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Scotiabank lifted their price objective on Domtar from $41.00 to $43.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Finally, Raymond James Financial reduced their price objective on Domtar from $52.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.33.
Domtar (NYSE:UFS) (TSE:UFS) last announced its earnings results on Thursday, February 8th. The basic materials company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Domtar had a negative net margin of 4.11% and a positive return on equity of 6.00%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. research analysts predict that Domtar Corp will post 2.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be issued a dividend of $0.435 per share. This is an increase from Domtar’s previous quarterly dividend of $0.42. This represents a $1.74 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, March 29th. Domtar’s dividend payout ratio (DPR) is presently -26.14%.
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Domtar 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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