Municipal Employees Retirement System of Michigan raised its stake in Domtar Corporation (NYSE:UFS) (TSE:UFS) by 1.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 29,000 shares of the basic materials company’s stock after buying an additional 400 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Domtar Corporation were worth $1,059,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in UFS. Comerica Bank raised its stake in Domtar Corporation by 6.2% in the fourth quarter. Comerica Bank now owns 51,768 shares of the basic materials company’s stock valued at $2,055,000 after buying an additional 3,001 shares in the last quarter. Alpha Windward LLC raised its stake in Domtar Corporation by 1.0% in the first quarter. Alpha Windward LLC now owns 12,060 shares of the basic materials company’s stock valued at $440,000 after buying an additional 120 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Domtar Corporation during the fourth quarter valued at about $4,297,000. Guggenheim Capital LLC raised its stake in Domtar Corporation by 18.1% in the fourth quarter. Guggenheim Capital LLC now owns 318,357 shares of the basic materials company’s stock valued at $12,425,000 after buying an additional 48,684 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in Domtar Corporation by 359.1% in the fourth quarter. Federated Investors Inc. PA now owns 559,060 shares of the basic materials company’s stock valued at $21,820,000 after buying an additional 437,278 shares in the last quarter. 85.69% of the stock is currently owned by institutional investors.
Domtar Corporation (NYSE UFS) traded down 1.72% on Tuesday, reaching $36.61. 113,361 shares of the company traded hands. Domtar Corporation has a one year low of $32.74 and a one year high of $44.58. The stock’s 50 day moving average price is $37.28 and its 200 day moving average price is $38.81. The company has a market capitalization of $2.29 billion, a PE ratio of 15.92 and a beta of 1.45.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last released its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. Domtar Corporation had a net margin of 2.82% and a return on equity of 6.50%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Domtar Corporation will post $2.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Thursday, June 29th. Domtar Corporation’s dividend payout ratio (DPR) is presently 72.17%.
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A number of brokerages have weighed in on UFS. Zacks Investment Research upgraded shares of Domtar Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. ValuEngine lowered shares of Domtar Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Domtar Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. CIBC raised shares of Domtar Corporation from a “sector underperform” rating to a “sector perform” rating in a research note on Monday, June 5th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $39.00 target price (down previously from $41.00) on shares of Domtar Corporation in a research note on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $42.17.
In other Domtar Corporation news, insider Michael Dennis Garcia sold 15,628 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $38.80, for a total value of $606,366.40. Following the completion of the transaction, the insider now directly owns 3,290 shares in the company, valued at $127,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Zygmunt Jablonski sold 3,134 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $39.53, for a total transaction of $123,887.02. Following the completion of the transaction, the senior vice president now owns 19,604 shares of the company’s stock, valued at $774,946.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,269 shares of company stock valued at $1,027,531. 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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