Domtar Corporation (UFS) Position Increased by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC lifted its stake in Domtar Corporation (NYSE:UFS) (TSE:UFS) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,224 shares of the basic materials company’s stock after purchasing an additional 2,164 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Domtar Corporation worth $1,968,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 grew 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 during the period. Bridgewater Associates LP purchased a new position in Domtar Corporation in the second quarter valued at about $200,000. Campbell & CO Investment Adviser LLC purchased a new position in Domtar Corporation in the second quarter valued at about $218,000. Finally, WBI Investments Inc. purchased a new position in Domtar Corporation in the second quarter valued at about $271,000. Hedge funds and other institutional investors own 91.25% of the company’s stock.
UFS has been the subject of a number of research reports. Vertical Research reiterated a “buy” rating on shares of Domtar Corporation in a research report on Friday, July 28th. ValuEngine raised Domtar Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub upgraded Domtar Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded Domtar Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Scotiabank dropped their price objective 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.38.
In other Domtar Corporation news, insider Michael Dennis Garcia sold 4,712 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.73, for a total value of $201,343.76. Following the sale, the insider now directly owns 4,712 shares in the company, valued at $201,343.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daniel Buron sold 4,900 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 15,126 shares in the company, valued at $606,552.60. The disclosure for this sale can be found here. Insiders have sold 13,766 shares of company stock valued at $569,809 in the last ninety days. Company insiders own 1.04% of the company’s stock.
Shares of Domtar Corporation (UFS) opened at 44.39 on Wednesday. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 16.93 and a beta of 1.49. Domtar Corporation has a 52-week low of $33.99 and a 52-week high of $44.58. The stock has a 50 day moving average of $41.31 and a 200 day moving average of $38.66.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last issued its quarterly earnings results on Friday, July 28th. The basic materials company reported $0.61 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts predict that Domtar Corporation will post $2.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.415 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.66 annualized dividend and a dividend yield of 3.74%. Domtar Corporation’s dividend payout ratio (DPR) is 63.36%.
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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