Cadence Capital Management LLC reduced its position in Domtar Corp (NYSE:UFS) (TSE:UFS) by 11.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,262 shares of the basic materials company’s stock after selling 1,037 shares during the quarter. Cadence Capital Management LLC’s holdings in Domtar were worth $394,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of UFS. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Domtar by 3,432.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,568 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 3,467 shares during the period. Bank of Hawaii acquired a new stake in Domtar during the 2nd quarter worth $201,000. World Asset Management Inc acquired a new stake in Domtar during the 2nd quarter worth $211,000. LPL Financial LLC acquired a new stake in Domtar during the 1st quarter worth $213,000. Finally, Element Capital Management LLC acquired a new stake in Domtar during the 1st quarter worth $224,000. 92.51% of the stock is owned by institutional investors and hedge funds.
UFS stock opened at $51.45 on Friday. Domtar Corp has a one year low of $39.18 and a one year high of $52.58. The firm has a market capitalization of $3.25 billion, a PE ratio of 20.02, a PEG ratio of 2.67 and a beta of 1.64. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.45.
Domtar (NYSE:UFS) (TSE:UFS) last released its earnings results on Wednesday, August 1st. The basic materials company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.12). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Domtar had a positive return on equity of 7.79% and a negative net margin of 3.25%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. research analysts expect that Domtar Corp will post 3.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, October 2nd will be given a $0.435 dividend. The ex-dividend date is Monday, October 1st. This represents a $1.74 dividend on an annualized basis and a yield of 3.38%. Domtar’s payout ratio is currently 66.92%.
A number of analysts recently weighed in on UFS shares. KeyCorp upgraded shares of Domtar from an “underweight” rating to a “sector weight” rating in a research note on Wednesday, August 1st. Citigroup increased their target price on shares of Domtar from $41.00 to $44.00 and gave the stock a “sell” rating in a research note on Tuesday, July 10th. National Bank Financial increased their target price on shares of Domtar from $45.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Monday, July 30th. TheStreet upgraded shares of Domtar from a “c+” rating to a “b-” rating in a research note on Monday, July 30th. Finally, Zacks Investment Research downgraded shares of Domtar from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $45.33.
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.
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