Letko Brosseau & Associates Inc. Buys New Holdings in Domtar Corp (UFS)
Letko Brosseau & Associates Inc. bought a new stake in Domtar Corp (NYSE:UFS) (TSE:UFS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,975 shares of the basic materials company’s stock, valued at approximately $843,000.
Several other large investors have also recently modified their holdings of UFS. Acadian Asset Management LLC boosted its holdings in shares of Domtar by 644.5% in the fourth quarter. Acadian Asset Management LLC now owns 371,502 shares of the basic materials company’s stock valued at $18,397,000 after acquiring an additional 321,603 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Domtar by 727.2% during the third quarter. Point72 Asset Management L.P. now owns 248,157 shares of the basic materials company’s stock worth $10,768,000 after buying an additional 218,157 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Domtar by 215.3% during the fourth quarter. Wells Fargo & Company MN now owns 279,785 shares of the basic materials company’s stock worth $13,855,000 after buying an additional 191,055 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in Domtar during the third quarter worth about $6,984,000. Finally, AXA purchased a new stake in Domtar during the third quarter worth about $6,530,000. 94.53% of the stock is currently owned by institutional investors and hedge funds.
Domtar stock opened at $45.20 on Thursday. The company has a current ratio of 2.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2,816.36, a PE ratio of 17.28, a price-to-earnings-growth ratio of 3.02 and a beta of 1.63. Domtar Corp has a 52-week low of $35.47 and a 52-week high of $52.58.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.74 dividend on an annualized basis and a yield of 3.85%. This is a boost from Domtar’s previous quarterly dividend of $0.42. Domtar’s payout ratio is presently -49.11%.
A number of analysts recently commented on UFS shares. Zacks Investment Research raised shares of Domtar from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Wednesday, December 27th. Raymond James Financial downgraded shares of Domtar from an “outperform” rating to a “market perform” rating in a report on Monday, January 29th. TheStreet downgraded shares of Domtar from an “a-” rating to a “c+” rating in a report on Friday, February 9th. Vertical Group raised shares of Domtar from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada downgraded shares of Domtar from an “outperform” rating to a “sector perform” rating and set a $50.00 price objective on the stock. in a report on Friday, January 12th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $44.33.
In other Domtar news, VP Daniel Buron sold 16,853 shares of Domtar stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $45.99, for a total transaction of $775,069.47. Following the completion of the transaction, the vice president now owns 19,101 shares in the company, valued at $878,454.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Fagan sold 23,674 shares of Domtar stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $44.87, for a total transaction of $1,062,252.38. Following the transaction, the insider now owns 19,477 shares of the company’s stock, valued at approximately $873,932.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,180 shares of company stock valued at $4,946,001. 1.04% of the stock is currently owned by company insiders.
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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