Stone Ridge Asset Management LLC purchased a new position in Domtar Corp (NYSE:UFS) (TSE:UFS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 39,421 shares of the basic materials company’s stock, valued at approximately $1,952,000. Stone Ridge Asset Management LLC owned about 0.06% of Domtar at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UFS. Acadian Asset Management LLC grew its holdings in Domtar by 644.5% in the fourth quarter. Acadian Asset Management LLC now owns 371,502 shares of the basic materials company’s stock worth $18,397,000 after purchasing an additional 321,603 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Domtar by 727.2% during the third quarter. Point72 Asset Management L.P. now owns 248,157 shares of the basic materials company’s stock worth $10,768,000 after buying an additional 218,157 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Domtar by 215.3% during the fourth quarter. Wells Fargo & Company MN now owns 279,785 shares of the basic materials company’s stock worth $13,855,000 after buying an additional 191,055 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Domtar during the third quarter worth $6,984,000. Finally, AXA acquired a new stake in shares of Domtar during the third quarter worth $6,530,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on UFS. ValuEngine upgraded shares of Domtar from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 8th. Zacks Investment Research downgraded shares of Domtar from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. TheStreet downgraded shares of Domtar from an “a-” rating to a “c+” rating in a research note on Friday, February 9th. Vertical Group upgraded shares of Domtar from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, Scotiabank lifted their price objective on shares of Domtar from $41.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $44.33.
Domtar Corp (NYSE:UFS) opened at $45.77 on Wednesday. The stock has a market cap of $2,919.81, a price-to-earnings ratio of 17.91, a P/E/G ratio of 3.10 and a beta of 1.63. Domtar Corp has a 1 year low of $35.47 and a 1 year high of $52.58. The company has a current ratio of 2.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.45.
Domtar (NYSE:UFS) (TSE:UFS) last posted its earnings results on Thursday, February 8th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Domtar had a negative net margin of 4.11% and a positive return on equity of 6.02%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. equities analysts anticipate that Domtar Corp will post 3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Thursday, March 29th. This is an increase from Domtar’s previous quarterly dividend of $0.42. This represents a $1.74 dividend on an annualized basis and a yield of 3.80%. Domtar’s payout ratio is currently -49.11%.
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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