State Board of Administration of Florida Retirement System Trims Stake in Domtar Corp (UFS)

State Board of Administration of Florida Retirement System reduced its holdings in Domtar Corp (NYSE:UFS) (TSE:UFS) by 0.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 88,599 shares of the basic materials company’s stock after selling 750 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Domtar were worth $4,399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Domtar by 6.3% in the fourth quarter. BlackRock Inc. now owns 8,167,471 shares of the basic materials company’s stock valued at $286,923,000 after buying an additional 487,215 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Domtar by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,163,540 shares of the basic materials company’s stock valued at $181,395,000 after buying an additional 145,552 shares during the period. Bank of New York Mellon Corp lifted its holdings in Domtar by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,360,051 shares of the basic materials company’s stock valued at $47,778,000 after buying an additional 17,660 shares during the period. Geode Capital Management LLC lifted its holdings in Domtar by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,228,133 shares of the basic materials company’s stock valued at $43,143,000 after buying an additional 49,013 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Domtar by 58.1% in the fourth quarter. Prudential Financial Inc. now owns 891,207 shares of the basic materials company’s stock valued at $31,308,000 after buying an additional 327,610 shares during the period. Institutional investors and hedge funds own 91.56% of the company’s stock.

NYSE:UFS traded up $0.10 during trading hours on Friday, hitting $42.43. The stock had a trading volume of 2,535 shares, compared to its average volume of 721,637. Domtar Corp has a one year low of $33.81 and a one year high of $54.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 2.19. The company has a market capitalization of $2.78 billion, a PE ratio of 9.18 and a beta of 1.96.

Domtar (NYSE:UFS) (TSE:UFS) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.08. Domtar had a net margin of 5.63% and a return on equity of 12.88%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Domtar Corp will post 5.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.455 per share. This is an increase from Domtar’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, July 1st. This represents a $1.82 annualized dividend and a dividend yield of 4.29%. Domtar’s dividend payout ratio is currently 37.74%.

In other news, insider Michael Fagan sold 11,834 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $51.13, for a total transaction of $605,072.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John David Williams sold 47,176 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $52.30, for a total transaction of $2,467,304.80. Following the sale, the chief executive officer now directly owns 16,373 shares of the company’s stock, valued at approximately $856,307.90. The disclosure for this sale can be found here. 0.95% of the stock is owned by corporate insiders.

Several brokerages have commented on UFS. Zacks Investment Research raised shares of Domtar from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Friday, April 12th. UFS reaffirmed a “sell” rating on shares of Domtar in a research note on Thursday, February 21st. TD Securities upped their target price on shares of Domtar from $45.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, February 6th. TheStreet raised shares of Domtar from a “c” rating to a “b” rating in a research note on Wednesday, February 6th. Finally, Royal Bank of Canada downgraded shares of Domtar from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $50.00 to $55.00 in a research note on Wednesday, February 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.25.

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Domtar Company Profile

Domtar Corporation designs, manufactures, markets, and distributes various communication papers, specialty and packaging papers, and absorbent hygiene products in the United States, Canada, Europe, Asia, and internationally. It operates in two segments, Pulp and Paper, and Personal Care. The company offers business papers, including copy and electronic imaging papers for use with inkjet and laser printers, photocopiers, and plain-paper fax machines, as well as computer papers, preprinted forms, and digital papers for office and home use.

Further Reading: How does a 12b-1 fee affect fund performance?

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Institutional Ownership by Quarter for Domtar (NYSE:UFS)

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