Citigroup Inc reissued their neutral rating on shares of Domtar Corp (NYSE:UFS) (TSE:UFS) in a research note published on Friday, April 14th. They currently have a $39.00 price target on the basic materials company’s stock, down from their previous price target of $41.00.
Other analysts also recently issued reports about the company. Bank of America Corp upgraded Domtar Corp from a neutral rating to a buy rating and upped their price objective for the stock from $44.00 to $48.00 in a report on Friday, January 27th. Zacks Investment Research upgraded Domtar Corp from a hold rating to a buy rating and set a $45.00 price objective for the company in a report on Tuesday, December 27th. 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 report on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $42.17.
Domtar Corp (NYSE:UFS) last issued its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.25 billion. Domtar Corp had a return on equity of 6.54% and a net margin of 2.51%. Domtar Corp’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS.
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The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, July 3rd will be given a dividend of $0.415 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.66 annualized dividend and a dividend yield of 4.52%. Domtar Corp’s payout ratio is 81.37%.
In related news, insider John David Williams sold 32,550 shares of the stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $39.28, for a total transaction of $1,278,564.00. Following the sale, the insider now owns 33,060 shares in the company, valued at $1,298,596.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Fagan sold 7,507 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $39.60, for a total transaction of $297,277.20. Following the sale, the insider now owns 14,002 shares in the company, valued at approximately $554,479.20. The disclosure for this sale can be found here. Insiders have sold 58,819 shares of company stock worth $2,306,095 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in Domtar Corp by 27.4% in the third quarter. Bank of Montreal Can now owns 52,633 shares of the basic materials company’s stock worth $1,954,000 after buying an additional 11,306 shares in the last quarter. Nationwide Fund Advisors raised its position in Domtar Corp by 7.6% in the third quarter. Nationwide Fund Advisors now owns 136,307 shares of the basic materials company’s stock worth $5,061,000 after buying an additional 9,671 shares in the last quarter. Parkwood LLC raised its position in Domtar Corp by 3.8% in the third quarter. Parkwood LLC now owns 7,509 shares of the basic materials company’s stock worth $279,000 after buying an additional 274 shares in the last quarter. Lingohr & Partner Asset Management GmbH raised its position in Domtar Corp by 121.4% in the third quarter. Lingohr & Partner Asset Management GmbH now owns 34,100 shares of the basic materials company’s stock worth $1,266,000 after buying an additional 18,700 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in Domtar Corp by 3.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 20,151 shares of the basic materials company’s stock worth $748,000 after buying an additional 618 shares in the last quarter. Institutional investors own 82.05% 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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