Domtar Corp. (UFS) Trading Down 3.2%
Domtar Corp. (NYSE:UFS) shares traded down 3.2% on Friday . The stock traded as low as $37.85 and last traded at $37.87, with a volume of 220,524 shares. The stock had previously closed at $39.13.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Domtar Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 12th. UFS cut Domtar Corp. to a “sector perform” rating in a report on Monday, April 18th. Citigroup Inc. boosted their target price on Domtar Corp. from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. TheStreet upgraded Domtar Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Finally, DA Davidson boosted their target price on Domtar Corp. from $30.00 to $32.00 and gave the stock an “underperform” rating in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Domtar Corp. currently has an average rating of “Hold” and an average price target of $39.67.
The company’s 50 day moving average is $36.29 and its 200-day moving average is $36.76. The stock has a market cap of $2.36 billion and a PE ratio of 26.35.
Domtar Corp. (NYSE:UFS) last issued its earnings results on Wednesday, July 27th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.48. The company earned $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that Domtar Corp. will post $3.00 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.415 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.66 dividend on an annualized basis and a yield of 4.40%.
In other Domtar Corp. news, CEO John David Williams sold 21,977 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $37.65, for a total value of $827,434.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
A number of hedge funds and institutional investors recently modified their holdings of UFS. Matarin Capital Management LLC bought a new position in shares of Domtar Corp. during the fourth quarter worth about $5,023,000. Morgan Stanley boosted its position in shares of Domtar Corp. by 9.3% in the fourth quarter. Morgan Stanley now owns 616,997 shares of the company’s stock worth $22,798,000 after buying an additional 52,243 shares during the period. Finally, Comerica Bank boosted its position in shares of Domtar Corp. by 2.4% in the fourth quarter. Comerica Bank now owns 47,484 shares of the company’s stock worth $1,588,000 after buying an additional 1,135 shares during the period.
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 operates through two business segments: Pulp and Paper, and Personal Care. Its Pulp and Paper segment is engaged in the designing, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.