Allianz Asset Management GmbH increased its holdings in Domtar Corp (NYSE:UFS) (TSE:UFS) by 5.3% during the third quarter, HoldingsChannel reports. The firm owned 614,416 shares of the basic materials company’s stock after acquiring an additional 30,770 shares during the quarter. Allianz Asset Management GmbH’s holdings in Domtar were worth $32,038,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of UFS. Acadian Asset Management LLC lifted its holdings in Domtar by 28.0% in the 3rd quarter. Acadian Asset Management LLC now owns 1,511,248 shares of the basic materials company’s stock worth $78,841,000 after purchasing an additional 330,144 shares in the last quarter. Chicago Equity Partners LLC lifted its holdings in Domtar by 188.9% in the 2nd quarter. Chicago Equity Partners LLC now owns 289,570 shares of the basic materials company’s stock worth $13,824,000 after purchasing an additional 189,330 shares in the last quarter. BlackRock Inc. lifted its holdings in Domtar by 2.1% in the 2nd quarter. BlackRock Inc. now owns 7,773,497 shares of the basic materials company’s stock worth $371,108,000 after purchasing an additional 158,605 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Domtar by 166.2% in the 2nd quarter. Renaissance Technologies LLC now owns 223,442 shares of the basic materials company’s stock worth $10,667,000 after purchasing an additional 139,500 shares in the last quarter. Finally, WBI Investments Inc. lifted its holdings in Domtar by 1,475.5% in the 2nd quarter. WBI Investments Inc. now owns 147,170 shares of the basic materials company’s stock worth $7,026,000 after purchasing an additional 137,829 shares in the last quarter. 91.66% of the stock is currently owned by institutional investors.
UFS has been the topic of several recent research reports. TheStreet cut Domtar from a “b” rating to a “c+” rating in a report on Wednesday, October 24th. Zacks Investment Research cut Domtar from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Vertical Group cut Domtar from a “buy” rating to a “hold” rating and set a $54.00 price objective on the stock. in a report on Thursday, September 13th. They noted that the move was a valuation call. ValuEngine cut Domtar from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Citigroup raised Domtar from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $47.00 to $53.00 in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.38.
Domtar (NYSE:UFS) (TSE:UFS) last issued its quarterly earnings data on Thursday, November 1st. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.32. Domtar had a positive return on equity of 9.13% and a negative net margin of 2.67%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the firm earned $1.03 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Domtar Corp will post 4.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $1.74 annualized dividend and a yield of 3.99%. Domtar’s payout ratio is presently 66.92%.
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Domtar Company Profile
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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