Trade Report: The First Midwest Bank Trust Division Acquires New Position in Domtar Corp. (UFS)

The First Midwest Bank Trust Division Acquires New Position in Domtar Corp. (UFS)

First Midwest Bank Trust Division bought a new position in shares of Domtar Corp. (NYSE:UFS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,600 shares of the company’s stock, valued at approximately $336,000.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Domtar Corp. by 0.7% in the first quarter. State Street Corp now owns 1,753,431 shares of the company’s stock worth $71,015,000 after buying an additional 12,731 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Domtar Corp. by 72.9% in the second quarter. LS Investment Advisors LLC now owns 3,785 shares of the company’s stock worth $133,000 after buying an additional 1,596 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Domtar Corp. by 173.3% in the second quarter. CIBC World Markets Inc. now owns 92,139 shares of the company’s stock worth $3,226,000 after buying an additional 58,423 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Domtar Corp. by 10.9% in the first quarter. BlackRock Fund Advisors now owns 5,636,324 shares of the company’s stock worth $228,271,000 after buying an additional 553,895 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Domtar Corp. during the first quarter worth about $240,000. 84.60% of the stock is currently owned by institutional investors.

Shares of Domtar Corp. (NYSE:UFS) traded down 1.43% during midday trading on Friday, reaching $37.80. 475,360 shares of the company were exchanged. The stock’s 50-day moving average price is $37.04 and its 200-day moving average price is $37.68. The company has a market capitalization of $2.37 billion, a PE ratio of 26.42 and a beta of 1.64. Domtar Corp. has a 52-week low of $29.88 and a 52-week high of $42.95.

Domtar Corp. (NYSE:UFS) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.48. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. Domtar Corp. had a net margin of 1.74% and a return on equity of 6.84%. Domtar Corp.’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. Analysts anticipate that Domtar Corp. will post $2.93 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, September 29th. Domtar Corp.’s dividend payout ratio is currently 116.08%.

A number of analysts have issued reports on UFS shares. Bank of America Corp. raised Domtar Corp. from an “underperform” rating to a “neutral” rating in a research report on Monday. Macquarie dropped their price target on shares of Domtar Corp. from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, September 15th. Zacks Investment Research downgraded shares of Domtar Corp. from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded shares of Domtar Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Finally, Moffett Nathanson upgraded shares of Domtar Corp. from an “underperform” rating to a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Domtar Corp. currently has an average rating of “Hold” and a consensus price target of $39.71.

Domtar Corp. Company Profile

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.

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