CAPROCK Group Inc. Increases Stake in Domtar Corp (UFS)
CAPROCK Group Inc. raised its stake in Domtar Corp (NYSE:UFS) (TSE:UFS) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,231 shares of the basic materials company’s stock after buying an additional 1,195 shares during the period. CAPROCK Group Inc.’s holdings in Domtar Corp were worth $556,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of UFS. LS Investment Advisors LLC raised its position in shares of Domtar Corp by 5.7% in the third quarter. LS Investment Advisors LLC now owns 4,000 shares of the basic materials company’s stock valued at $149,000 after buying an additional 215 shares during the last quarter. Kernodle & Katon Asset Management Group LLC acquired a new position in shares of Domtar Corp during the third quarter valued at about $168,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Domtar Corp during the fourth quarter valued at about $202,000. Dodge & Cox acquired a new position in shares of Domtar Corp during the fourth quarter valued at about $242,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Domtar Corp during the fourth quarter valued at about $261,000. Institutional investors own 82.05% of the company’s stock.
Shares of Domtar Corp (NYSE:UFS) traded up 1.34% during mid-day trading on Friday, hitting $37.70. 548,212 shares of the stock were exchanged. The stock has a 50-day moving average price of $37.38 and a 200 day moving average price of $38.66. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 18.48 and a beta of 1.59. Domtar Corp has a 52-week low of $32.74 and a 52-week high of $44.58.
Domtar Corp (NYSE:UFS) last released its quarterly earnings data on Thursday, February 9th. The basic materials company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by $0.20. Domtar Corp had a return on equity of 6.54% and a net margin of 2.51%. The company earned $1.27 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company posted $1.11 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts expect that Domtar Corp will post $2.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 3rd were given a $0.415 dividend. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $1.66 annualized dividend and a yield of 4.40%. Domtar Corp’s dividend payout ratio is presently 81.37%.
A number of research firms have weighed in on UFS. Zacks Investment Research lowered shares of Domtar Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 7th. Citigroup Inc restated a “neutral” rating and set a $39.00 price objective (down from $41.00) on shares of Domtar Corp in a research note on Friday, April 14th. Bank of America Corp restated a “buy” rating and set a $48.00 price objective (up from $47.00) on shares of Domtar Corp in a research note on Wednesday, February 22nd. Finally, DA Davidson restated an “underperform” rating and set a $32.00 price objective (down from $35.00) on shares of Domtar Corp in a research note on Wednesday, March 29th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Domtar Corp presently has an average rating of “Hold” and an average target price of $40.83.
In other Domtar Corp news, insider John David Williams sold 32,550 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $39.28, for a total value of $1,278,564.00. Following the sale, the insider now owns 33,060 shares in the company, valued at approximately $1,298,596.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.85% of the company’s stock.
Domtar Corp 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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