Russell Investments Group Ltd. trimmed its stake in shares of Domtar Corp (NYSE:UFS) (TSE:UFS) by 21.8% during the second quarter, Holdings Channel reports. The institutional investor owned 74,323 shares of the basic materials company’s stock after selling 20,707 shares during the period. Russell Investments Group Ltd.’s holdings in Domtar were worth $3,288,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Synovus Financial Corp raised its position in shares of Domtar by 2.1% during the 1st quarter. Synovus Financial Corp now owns 12,606 shares of the basic materials company’s stock worth $630,000 after buying an additional 260 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Domtar by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 25,351 shares of the basic materials company’s stock worth $1,129,000 after buying an additional 360 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Domtar by 3.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,570 shares of the basic materials company’s stock worth $773,000 after buying an additional 463 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Domtar by 1.6% during the 1st quarter. Mason Street Advisors LLC now owns 33,461 shares of the basic materials company’s stock worth $1,661,000 after buying an additional 513 shares in the last quarter. Finally, AGF Investments LLC raised its position in shares of Domtar by 75.1% during the 2nd quarter. AGF Investments LLC now owns 1,250 shares of the basic materials company’s stock worth $56,000 after buying an additional 536 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

Shares of NYSE UFS traded down $0.23 during midday trading on Monday, reaching $35.86. The company’s stock had a trading volume of 11,682 shares, compared to its average volume of 651,102. The company has a current ratio of 2.20, a quick ratio of 1.09 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $35.32 and a 200 day moving average price of $43.46. Domtar Corp has a one year low of $31.72 and a one year high of $54.50. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 7.83 and a beta of 1.97.

Domtar (NYSE:UFS) (TSE:UFS) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.30). Domtar had a net margin of 5.21% and a return on equity of 12.48%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Research analysts anticipate that Domtar Corp will post 3.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.08%. Domtar’s dividend payout ratio is currently 39.48%.

A number of analysts recently commented on UFS shares. BMO Capital Markets downgraded shares of Domtar from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $52.00 to $39.00 in a report on Wednesday, July 3rd. TheStreet downgraded shares of Domtar from a “b” rating to a “c+” rating in a report on Thursday, August 1st. TD Securities dropped their target price on shares of Domtar from $48.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. ValuEngine downgraded shares of Domtar from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, Raymond James dropped their target price on shares of Domtar from $48.00 to $45.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.62.

About Domtar

Domtar Corporation designs, manufactures, markets, and distributes various communication papers, specialty and packaging papers, and absorbent hygiene products in the United States, Canada, Europe, Asia, and internationally. It operates in two segments, Pulp and Paper, and Personal Care. The company offers business papers, including copy and electronic imaging papers for use with inkjet and laser printers, photocopiers, and plain-paper fax machines, as well as computer papers, preprinted forms, and digital papers for office and home use.

Further Reading: The limitations of an equal weight rating

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Institutional Ownership by Quarter for Domtar (NYSE:UFS)

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