Royce & Associates LP Lowers Holdings in Domtar Corporation (UFS)
Royce & Associates LP trimmed its stake in Domtar Corporation (NYSE:UFS) (TSE:UFS) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,710 shares of the basic materials company’s stock after selling 4,590 shares during the period. Royce & Associates LP owned about 0.17% of Domtar worth $4,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Synovus Financial Corp purchased a new stake in Domtar in the 3rd quarter valued at about $313,000. Stifel Financial Corp purchased a new stake in Domtar in the 3rd quarter valued at about $523,000. Schwab Charles Investment Management Inc. boosted its position in Domtar by 4.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 288,828 shares of the basic materials company’s stock valued at $12,533,000 after buying an additional 11,078 shares during the period. Commonwealth Bank of Australia boosted its position in Domtar by 39.7% in the 3rd quarter. Commonwealth Bank of Australia now owns 181,199 shares of the basic materials company’s stock valued at $7,859,000 after buying an additional 51,500 shares during the period. Finally, Investec Asset Management LTD purchased a new stake in Domtar in the 3rd quarter valued at about $3,865,000. 91.32% of the stock is owned by institutional investors.
Shares of Domtar Corporation (UFS) opened at $48.46 on Monday. Domtar Corporation has a twelve month low of $35.47 and a twelve month high of $49.26. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.20. The company has a market cap of $3,038.15, a PE ratio of 17.88, a PEG ratio of 3.67 and a beta of 1.54.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.415 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.66 annualized dividend and a dividend yield of 3.43%. Domtar’s dividend payout ratio (DPR) is presently 59.50%.
Several research firms have issued reports on UFS. National Bank Financial boosted their price objective on shares of Domtar from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, October 30th. Scotiabank set a $41.00 price objective on shares of Domtar and gave the company a “sector perform” rating in a research report on Monday, October 30th. DA Davidson boosted their price target on shares of Domtar to $37.00 and gave the company an “underperform” rating in a report on Monday, October 30th. KeyCorp set a $33.00 price target on shares of Domtar and gave the company a “sell” rating in a report on Friday, October 27th. Finally, Stephens assumed coverage on shares of Domtar in a report on Tuesday, October 24th. They issued an “equal weight” rating and a $43.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $43.30.
In related news, insider Michael Dennis Garcia sold 4,712 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.73, for a total transaction of $201,343.76. Following the completion of the transaction, the insider now owns 4,712 shares in the company, valued at approximately $201,343.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.04% of the company’s stock.
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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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