Domtar Corp (UFS) Shares Bought by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC raised its stake in Domtar Corp (NYSE:UFS) (TSE:UFS) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,733 shares of the basic materials company’s stock after acquiring an additional 460 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Domtar were worth $483,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Domtar by 6.3% in the 4th quarter. BlackRock Inc. now owns 8,167,471 shares of the basic materials company’s stock valued at $286,923,000 after acquiring an additional 487,215 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Domtar by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,163,540 shares of the basic materials company’s stock worth $181,395,000 after purchasing an additional 145,552 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Domtar by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,360,051 shares of the basic materials company’s stock worth $47,778,000 after purchasing an additional 17,660 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Domtar by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,228,133 shares of the basic materials company’s stock worth $43,143,000 after purchasing an additional 49,013 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Domtar by 58.1% during the 4th quarter. Prudential Financial Inc. now owns 891,207 shares of the basic materials company’s stock worth $31,308,000 after purchasing an additional 327,610 shares in the last quarter. 92.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE UFS traded down $0.12 during trading hours on Thursday, hitting $45.01. 15,259 shares of the stock were exchanged, compared to its average volume of 733,715. The company has a current ratio of 2.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 9.78 and a beta of 1.96. Domtar Corp has a 1-year low of $33.81 and a 1-year high of $54.50.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.455 per share. This is a positive change from Domtar’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.82 annualized dividend and a dividend yield of 4.04%. Domtar’s dividend payout ratio (DPR) is currently 37.74%.
A number of research analysts have issued reports on the stock. UFS restated a “sell” rating on shares of Domtar in a research report on Thursday, February 21st. Zacks Investment Research lowered shares of Domtar from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. TheStreet upgraded shares of Domtar from a “c” rating to a “b” rating in a research report on Wednesday, February 6th. Raymond James restated a “market perform” rating and set a $52.00 target price on shares of Domtar in a research report on Wednesday, February 6th. Finally, TD Securities increased their target price on shares of Domtar from $45.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, February 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $52.25.
In related news, VP Daniel Buron sold 13,591 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $53.42, for a total transaction of $726,031.22. Following the sale, the vice president now owns 4,982 shares in the company, valued at approximately $266,138.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Zygmunt Jablonski sold 2,864 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $52.17, for a total transaction of $149,414.88. Following the sale, the senior vice president now owns 20,128 shares in the company, valued at approximately $1,050,077.76. The disclosure for this sale can be found here. Insiders have sold a total of 136,857 shares of company stock worth $7,184,917 in the last quarter. 0.95% of the stock is currently owned by company insiders.
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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