Domtar Corporation (UFS) Position Reduced by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lessened its holdings in Domtar Corporation (NYSE:UFS) (TSE:UFS) by 83.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,329 shares of the basic materials company’s stock after selling 126,578 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Domtar were worth $1,056,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Domtar by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,610 shares of the basic materials company’s stock valued at $100,000 after buying an additional 320 shares during the last quarter. LS Investment Advisors LLC increased its holdings in Domtar by 20.2% in the second quarter. LS Investment Advisors LLC now owns 5,143 shares of the basic materials company’s stock valued at $198,000 after buying an additional 866 shares during the last quarter. Bridgewater Associates LP purchased a new position in Domtar in the second quarter valued at $200,000. Campbell & CO Investment Adviser LLC purchased a new position in Domtar in the second quarter valued at $218,000. Finally, World Asset Management Inc purchased a new position in Domtar in the third quarter valued at $226,000. 91.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Michael Fagan sold 4,154 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $41.40, for a total transaction of $171,975.60. Following the completion of the sale, the insider now owns 10,649 shares in the company, valued at $440,868.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Dennis Garcia sold 4,712 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.73, for a total transaction of $201,343.76. Following the sale, the insider now owns 4,712 shares of the company’s stock, valued at approximately $201,343.76. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.
Several equities analysts recently commented on UFS shares. Scotiabank set a $41.00 target price on Domtar and gave the company a “sector perform” rating in a report on Monday, October 30th. ValuEngine upgraded shares of Domtar from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Citigroup restated a “sell” rating and issued a $40.00 price objective (down previously from $41.00) on shares of Domtar in a research note on Thursday, October 5th. KeyCorp set a $33.00 price objective on shares of Domtar and gave the company a “sell” rating in a research note on Thursday, October 12th. Finally, Stephens initiated coverage on shares of Domtar in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $43.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Domtar has a consensus rating of “Hold” and a consensus price target of $43.30.
Domtar Corporation (UFS) traded down $0.16 during midday trading on Friday, reaching $48.06. 366,804 shares of the company’s stock traded hands, compared to its average volume of 570,014. The company has a quick ratio of 1.20, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. Domtar Corporation has a one year low of $35.47 and a one year high of $48.36. The firm has a market capitalization of $2,994.88, a P/E ratio of 17.63, a PEG ratio of 3.65 and a beta of 1.54.
Domtar (NYSE:UFS) (TSE:UFS) last released its quarterly earnings data on Friday, October 27th. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.30. Domtar had a net margin of 3.44% and a return on equity of 6.17%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Domtar’s revenue for the quarter was up 1.7% on a year-over-year basis. sell-side analysts anticipate that Domtar Corporation will post 2.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.415 per share. The ex-dividend date is Friday, December 29th. This represents a $1.66 annualized dividend and a dividend yield of 3.45%. Domtar’s dividend payout ratio (DPR) is 59.50%.
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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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