Sterling Capital Management LLC lessened its stake in shares of Domtar Corp (NYSE:UFS) (TSE:UFS) by 70.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,445 shares of the basic materials company’s stock after selling 56,360 shares during the period. Sterling Capital Management LLC’s holdings in Domtar were worth $1,044,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Capital Management LLC acquired a new position in shares of Domtar during the 2nd quarter worth about $39,000. Advisory Services Network LLC acquired a new position in shares of Domtar during the 2nd quarter worth about $50,000. AGF Investments LLC raised its position in shares of Domtar by 75.1% during the 2nd quarter. AGF Investments LLC now owns 1,250 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 536 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in shares of Domtar during the 2nd quarter worth about $214,000. Finally, AE Wealth Management LLC acquired a new position in shares of Domtar during the 2nd quarter worth about $244,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.
Shares of Domtar stock traded up $0.75 during mid-day trading on Friday, hitting $35.03. The stock had a trading volume of 22,704 shares, compared to its average volume of 642,124. The firm has a 50-day moving average of $34.50 and a two-hundred day moving average of $42.97. Domtar Corp has a 12-month low of $31.72 and a 12-month high of $54.17. The company has a quick ratio of 1.09, a current ratio of 2.20 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.21 billion, a P/E ratio of 7.62 and a beta of 1.97.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.455 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.82 annualized dividend and a dividend yield of 5.20%. Domtar’s dividend payout ratio (DPR) is 39.48%.
Several brokerages recently issued reports on UFS. Vertical Group cut shares of Domtar from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. BMO Capital Markets cut shares of Domtar from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $52.00 to $39.00 in a research note on Wednesday, July 3rd. Stephens set a $53.00 price objective on shares of Domtar and gave the company a “buy” rating in a research note on Friday, June 28th. TD Securities dropped their price objective on shares of Domtar from $48.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Raymond James dropped their price objective on shares of Domtar from $48.00 to $45.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Domtar has an average rating of “Hold” and a consensus price target of $49.62.
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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