Maryland State Retirement & Pension System bought a new position in shares of Domtar Co. (NYSE:UFS) (TSE:UFS) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 19,815 shares of the basic materials company’s stock, valued at approximately $1,091,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Laurion Capital Management LP bought a new stake in Domtar during the second quarter worth $200,000. Advisor Partners LLC bought a new stake in Domtar during the second quarter worth $211,000. Commerce Bank bought a new stake in Domtar during the second quarter worth $214,000. CIBC Asset Management Inc bought a new stake in Domtar during the second quarter worth $229,000. Finally, World Asset Management Inc bought a new stake in Domtar during the second quarter worth $231,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.
NYSE UFS opened at $55.49 on Wednesday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 95.67 and a beta of 1.75. Domtar Co. has a twelve month low of $29.07 and a twelve month high of $55.50. The stock has a fifty day simple moving average of $54.96 and a 200 day simple moving average of $54.84. The company has a quick ratio of 1.69, a current ratio of 2.78 and a debt-to-equity ratio of 0.23.
Domtar (NYSE:UFS) (TSE:UFS) last issued its quarterly earnings results on Thursday, November 4th. The basic materials company reported $1.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.24). Domtar had a return on equity of 7.31% and a net margin of 0.59%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. Research analysts expect that Domtar Co. will post 3.94 earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut Domtar from a “strong-buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research note on Monday, September 6th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $51.33.
Domtar Corp. engages in the design, manufacturing, marketing, and distribution of fiber-based products, which includes communication papers, specialty and packaging papers, and absorbent hygiene products. It operates through the Pulp and Paper segment, which involved in 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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