CIBC World Markets Inc. Has $685,000 Stake in Domtar Corporation (UFS)
CIBC World Markets Inc. grew its stake in shares of Domtar Corporation (NYSE:UFS) (TSE:UFS) by 72.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,820 shares of the basic materials company’s stock after buying an additional 7,469 shares during the period. CIBC World Markets Inc.’s holdings in Domtar Corporation were worth $685,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Domtar Corporation by 8,753.9% during the first quarter. BlackRock Inc. now owns 10,377,062 shares of the basic materials company’s stock valued at $378,971,000 after buying an additional 10,259,859 shares during the period. Vanguard Group Inc. increased its position in shares of Domtar Corporation by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,288,590 shares of the basic materials company’s stock valued at $193,139,000 after buying an additional 36,676 shares during the period. QV Investors Inc. bought a new stake in shares of Domtar Corporation during the second quarter valued at about $219,260,000. Fairpointe Capital LLC increased its position in shares of Domtar Corporation by 29.7% during the first quarter. Fairpointe Capital LLC now owns 3,664,354 shares of the basic materials company’s stock valued at $133,822,000 after buying an additional 839,266 shares during the period. Finally, State Street Corp increased its position in shares of Domtar Corporation by 1.9% during the first quarter. State Street Corp now owns 1,763,876 shares of the basic materials company’s stock valued at $64,420,000 after buying an additional 32,626 shares during the period. Hedge funds and other institutional investors own 91.25% of the company’s stock.
Shares of Domtar Corporation (UFS) opened at 42.54 on Monday. The stock’s 50 day moving average price is $39.64 and its 200-day moving average price is $38.19. Domtar Corporation has a 1-year low of $33.99 and a 1-year high of $44.58. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 16.22 and a beta of 1.49.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last released its earnings results on Friday, July 28th. The basic materials company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.08. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.31 billion. Domtar Corporation had a return on equity of 6.47% and a net margin of 3.23%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. On average, equities research analysts forecast that Domtar Corporation will post $2.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Friday, September 29th. Domtar Corporation’s payout ratio is currently 63.36%.
Several equities research analysts have recently weighed in on UFS shares. ValuEngine cut Domtar Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. CIBC upgraded shares of Domtar Corporation from a “sector underperform” rating to a “sector perform” rating in a research report on Monday, June 5th. BidaskClub upgraded shares of Domtar Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research cut shares of Domtar Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 6th. Finally, Vertical Research restated a “buy” rating on shares of Domtar Corporation in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $41.22.
In related news, VP Daniel Buron sold 4,900 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $40.10, for a total transaction of $196,490.00. Following the completion of the transaction, the vice president now owns 15,126 shares in the company, valued at approximately $606,552.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Fagan sold 4,154 shares of the business’s 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 transaction, the insider now owns 10,649 shares of the company’s stock, valued at approximately $440,868.60. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.
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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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