Domtar Corporation (NYSE:UFS) Issues Quarterly Earnings Results
Domtar Corporation (NYSE:UFS) (TSE:UFS) announced its quarterly earnings results on Friday. The basic materials company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.08, Bloomberg Earnings reports. 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 2.82% and a return on equity of 6.50%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share.
Shares of Domtar Corporation (UFS) traded up 2.18% during trading on Friday, hitting $39.33. 896,956 shares of the stock were exchanged. The stock’s 50 day moving average price is $38.04 and its 200 day moving average price is $38.49. Domtar Corporation has a one year low of $33.99 and a one year high of $44.58. The stock has a market cap of $2.46 billion, a PE ratio of 15.00 and a beta of 1.49.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were given a dividend of $0.415 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.22%. Domtar Corporation’s dividend payout ratio (DPR) is presently 63.36%.
UFS has been the topic of several recent analyst reports. BidaskClub lowered shares of Domtar Corporation from a “hold” rating to a “sell” rating in a research note on Thursday. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $52.00 price target on shares of Domtar Corporation in a research note on Friday, April 28th. Zacks Investment Research lowered shares of Domtar Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. TD Securities reiterated a “hold” rating and issued a $42.00 price target on shares of Domtar Corporation in a research note on Friday, April 28th. Finally, Scotiabank increased their price target on shares of Domtar Corporation from $38.50 to $40.50 and gave the company a “sector perform” rating in a research note on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $41.25.
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In other news, insider Michael Dennis Garcia sold 15,628 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $38.80, for a total value of $606,366.40. Following the completion of the sale, the insider now directly owns 3,290 shares in the company, valued at approximately $127,652. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Fagan sold 7,507 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $39.60, for a total value of $297,277.20. Following the completion of the sale, the insider now owns 14,002 shares of the company’s stock, valued at $554,479.20. The disclosure for this sale can be found here. Insiders sold a total of 26,269 shares of company stock valued at $1,027,531 over the last quarter. Company insiders own 1.04% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Gotham Asset Management LLC purchased a new stake in shares of Domtar Corporation during the first quarter worth $4,677,000. Piedmont Investment Advisors LLC increased its stake in shares of 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. Alpha Windward LLC increased its stake in shares of 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. Rock Point Advisors LLC increased its stake in shares of Domtar Corporation by 17.4% in the first quarter. Rock Point Advisors LLC now owns 244,540 shares of the basic materials company’s stock worth $8,931,000 after buying an additional 36,323 shares during the period. Finally, Systematic Financial Management LP increased its stake in shares of Domtar Corporation by 4.3% in the first quarter. Systematic Financial Management LP now owns 441,168 shares of the basic materials company’s stock worth $16,111,000 after buying an additional 18,274 shares during the period. Institutional investors and hedge funds own 85.37% of the company’s stock.
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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