Domtar Corporation (UFS) Price Target Raised to $37.00
Domtar Corporation (NYSE:UFS) (TSE:UFS) had its price target raised by DA Davidson to $37.00 in a research note released on Monday. They currently have an underperform rating on the basic materials company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Domtar Corporation from a hold rating to a strong-buy rating and set a $51.00 price objective for the company in a research report on Thursday, October 5th. Citigroup Inc. reissued a sell rating and issued a $40.00 price objective (down from $41.00) on shares of Domtar Corporation in a research report on Thursday, October 5th. ValuEngine raised shares of Domtar Corporation from a hold rating to a buy rating in a research report on Friday, September 8th. KeyCorp set a $33.00 price target on shares of Domtar Corporation and gave the stock a sell rating in a research report on Thursday, October 12th. Finally, Vertical Research reaffirmed a buy rating on shares of Domtar Corporation in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Domtar Corporation presently has a consensus rating of Hold and a consensus price target of $43.30.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last posted its quarterly earnings data on Friday, October 27th. The basic materials company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.30. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Domtar Corporation had a net margin of 3.44% and a return on equity of 6.17%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 EPS.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd will be issued a $0.415 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.66 dividend on an annualized basis and a yield of 3.50%. Domtar Corporation’s dividend payout ratio is currently 59.50%.
In other Domtar Corporation news, insider Michael Dennis Garcia sold 4,712 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.73, for a total value of $201,343.76. Following the transaction, the insider now owns 4,712 shares of the company’s stock, valued at $201,343.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel Buron sold 4,900 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $40.10, for a total transaction of $196,490.00. Following the completion of the transaction, the vice president now directly owns 15,126 shares in the company, valued at approximately $606,552.60. The disclosure for this sale can be found here. Insiders sold 13,766 shares of company stock worth $569,809 in the last three months. 1.04% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Utah Retirement Systems lifted its holdings in Domtar Corporation by 0.9% in the second quarter. Utah Retirement Systems now owns 11,396 shares of the basic materials company’s stock worth $438,000 after acquiring an additional 100 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Domtar Corporation by 0.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,797 shares of the basic materials company’s stock worth $645,000 after acquiring an additional 100 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Domtar Corporation by 1.3% in the second quarter. PNC Financial Services Group Inc. now owns 10,652 shares of the basic materials company’s stock worth $409,000 after acquiring an additional 134 shares during the last quarter. Comerica Bank lifted its holdings in Domtar Corporation by 0.3% in the second quarter. Comerica Bank now owns 53,619 shares of the basic materials company’s stock worth $2,092,000 after acquiring an additional 171 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Domtar Corporation by 3.0% in the first quarter. Amalgamated Bank now owns 9,881 shares of the basic materials company’s stock worth $361,000 after acquiring an additional 286 shares during the last quarter. 91.07% of the stock is currently owned by hedge funds and other institutional investors.
Domtar Corporation Company Profile
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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