Emerald Acquisition Ltd. acquired a new position in Domtar Corp. (NYSE:UFS) during the second quarter, Holdings Channel reports. The fund acquired 89,822 shares of the company’s stock, valued at approximately $3,145,000. Emerald Acquisition Ltd. owned about 0.14% of Domtar Corp. as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Hussman Strategic Advisors Inc. purchased a new stake in shares of Domtar Corp. during the second quarter worth approximately $123,000. LS Investment Advisors LLC boosted its stake in shares of Domtar Corp. by 72.9% in the second quarter. LS Investment Advisors LLC now owns 3,785 shares of the company’s stock worth $133,000 after buying an additional 1,596 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Domtar Corp. by 1.0% in the first quarter. IFP Advisors Inc now owns 4,774 shares of the company’s stock worth $193,000 after buying an additional 49 shares during the last quarter. Oakbrook Investments LLC boosted its stake in shares of Domtar Corp. by 9.4% in the second quarter. Oakbrook Investments LLC now owns 5,800 shares of the company’s stock worth $203,000 after buying an additional 500 shares during the last quarter. Finally, BB&T Securities LLC purchased a new stake in shares of Domtar Corp. during the first quarter worth approximately $211,000. 84.60% of the stock is currently owned by institutional investors and hedge funds.
Domtar Corp. (NYSE:UFS) traded down 1.41% during midday trading on Friday, reaching $36.97. 465,113 shares of the company were exchanged. Domtar Corp. has a 52-week low of $29.88 and a 52-week high of $42.95. The company has a 50 day moving average of $37.42 and a 200-day moving average of $37.63. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 25.84 and a beta of 1.67.
Domtar Corp. (NYSE:UFS) last posted its earnings results on Wednesday, July 27th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.48. The firm earned $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Domtar Corp. had a return on equity of 6.84% and a net margin of 1.74%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 earnings per share. On average, equities research analysts anticipate that Domtar Corp. will post $2.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, September 29th. Domtar Corp.’s payout ratio is 116.08%.
A number of brokerages have recently commented on UFS. DA Davidson cut shares of Domtar Corp. from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $42.00 to $30.00 in a research note on Friday, July 8th. Goldman Sachs Group Inc. began coverage on shares of Domtar Corp. in a research note on Thursday. They set a “neutral” rating and a $40.00 price objective on the stock. Zacks Investment Research cut shares of Domtar Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 12th. TheStreet raised shares of Domtar Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Finally, Macquarie dropped their price objective on shares of Domtar Corp. from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, September 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.71.
About Domtar Corp.
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 operates through two business segments: Pulp and Paper, and Personal Care. Its Pulp and Paper segment is engaged in the designing, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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