Amalgamated Bank Acquires 2,365 Shares of Domtar Corporation (UFS)
Amalgamated Bank boosted its holdings in shares of Domtar Corporation (NYSE:UFS) (TSE:UFS) by 23.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,246 shares of the basic materials company’s stock after buying an additional 2,365 shares during the quarter. Amalgamated Bank’s holdings in Domtar Corporation were worth $470,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in UFS. Utah Retirement Systems lifted its holdings in Domtar Corporation by 0.9% during the second quarter. Utah Retirement Systems now owns 11,396 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 100 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Domtar Corporation by 0.6% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,797 shares of the basic materials company’s stock valued at $645,000 after purchasing an additional 100 shares in the last quarter. Comerica Bank lifted its holdings in Domtar Corporation by 0.3% during the second quarter. Comerica Bank now owns 53,619 shares of the basic materials company’s stock valued at $2,092,000 after purchasing an additional 171 shares in the last quarter. Liberty Mutual Group Asset Management Inc. lifted its holdings in Domtar Corporation by 0.6% during the first quarter. Liberty Mutual Group Asset Management Inc. now owns 28,594 shares of the basic materials company’s stock valued at $1,044,000 after purchasing an additional 172 shares in the last quarter. Finally, Advantus Capital Management Inc lifted its holdings in Domtar Corporation by 3.0% during the first quarter. Advantus Capital Management Inc now owns 8,013 shares of the basic materials company’s stock valued at $293,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 91.25% of the company’s stock.
Domtar Corporation (UFS) opened at 42.81 on Friday. Domtar Corporation has a 12-month low of $33.99 and a 12-month high of $44.72. The stock has a 50 day moving average of $41.55 and a 200 day moving average of $38.73. The stock has a market cap of $2.68 billion, a P/E ratio of 16.33 and a beta of 1.49.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last issued its quarterly earnings data on Friday, July 28th. The basic materials company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Domtar Corporation had a net margin of 3.23% and a return on equity of 6.47%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. On average, equities research analysts anticipate that Domtar Corporation will post $2.52 earnings per share 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 paid a $0.415 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.66 dividend on an annualized basis and a yield of 3.88%. Domtar Corporation’s dividend payout ratio is currently 63.36%.
Several equities analysts have weighed in on the stock. BidaskClub downgraded shares of Domtar Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded shares of Domtar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Scotiabank lowered their price target on shares of Domtar Corporation from $40.50 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, July 31st. ValuEngine raised shares of Domtar Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, KeyCorp assumed coverage on shares of Domtar Corporation in a report on Thursday, July 6th. They set an “underweight” rating and a $33.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Domtar Corporation currently has an average rating of “Hold” and a consensus price target of $42.25.
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In related news, insider Michael Fagan sold 4,154 shares of Domtar Corporation 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 sale, the insider now owns 10,649 shares of the company’s stock, valued at approximately $440,868.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Dennis Garcia sold 4,712 shares of Domtar Corporation stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $42.73, for a total transaction of $201,343.76. Following the completion of the sale, the insider now directly owns 4,712 shares in the company, valued at approximately $201,343.76. The disclosure for this sale can be found here. Insiders sold a total of 13,766 shares of company stock worth $569,809 in the last three months. 1.04% of the stock is owned by corporate insiders.
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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