Domtar Corporation (UFS) Cut to Sell at BidaskClub

BidaskClub cut shares of Domtar Corporation (NYSE:UFS) (TSE:UFS) from a hold rating to a sell rating in a research note issued to investors on Tuesday, July 11th.

Several other research analysts have also issued reports on UFS. ValuEngine lowered shares of Domtar Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Domtar Corporation from a sell rating to a hold rating in a research note on Wednesday, June 14th. Raymond James Financial, Inc. reissued an outperform rating and set a $52.00 price objective on shares of Domtar Corporation in a research note on Friday, April 28th. KeyCorp assumed coverage on shares of Domtar Corporation in a research note on Thursday, July 6th. They set an underweight rating and a $33.00 price objective on the stock. Finally, CIBC raised shares of Domtar Corporation from a sector underperform rating to a sector perform rating in a research note on Monday, June 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Domtar Corporation presently has a consensus rating of Hold and a consensus target price of $41.20.

Domtar Corporation (NYSE UFS) traded up 0.87% on Tuesday, reaching $38.10. 510,420 shares of the company’s stock traded hands. The firm’s 50-day moving average is $38.37 and its 200 day moving average is $38.41. Domtar Corporation has a 52-week low of $33.99 and a 52-week high of $44.58. The stock has a market capitalization of $2.39 billion, a PE ratio of 14.53 and a beta of 1.49.

Domtar Corporation (NYSE:UFS) (TSE:UFS) last issued its earnings results on Friday, July 28th. The basic materials company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.31 billion. Domtar Corporation had a net margin of 3.23% and a return on equity of 6.47%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. Analysts forecast that Domtar Corporation will post $2.46 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Friday, September 29th. Domtar Corporation’s payout ratio is currently 63.36%.

A number of hedge funds and other institutional investors have recently made changes to their positions in UFS. Comerica Bank increased its stake in Domtar Corporation by 6.2% in the fourth quarter. Comerica Bank now owns 51,768 shares of the basic materials company’s stock worth $2,055,000 after buying an additional 3,001 shares during the period. Bank of America Corp DE increased its stake in Domtar Corporation by 2.7% in the first quarter. Bank of America Corp DE now owns 284,619 shares of the basic materials company’s stock worth $10,395,000 after buying an additional 7,613 shares during the period. Gotham Asset Management LLC acquired a new stake in Domtar Corporation during the first quarter worth about $4,677,000. Piedmont Investment Advisors LLC increased its stake in Domtar Corporation by 121.2% in the first quarter. Piedmont Investment Advisors LLC now owns 31,077 shares of the basic materials company’s stock worth $1,135,000 after buying an additional 17,028 shares during the period. Finally, Alpha Windward LLC increased its stake in Domtar Corporation by 1.0% in the first quarter. Alpha Windward LLC now owns 12,060 shares of the basic materials company’s stock worth $440,000 after buying an additional 120 shares during the period. 83.14% of the stock is currently owned by hedge funds and other institutional investors.

About Domtar Corporation

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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