Campbell & CO Investment Adviser LLC bought a new position in Norbord Inc. (NYSE:OSB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,400 shares of the construction company’s stock, valued at approximately $366,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of OSB. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Norbord by 122.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,082 shares of the construction company’s stock valued at $185,000 after acquiring an additional 4,453 shares in the last quarter. Institute for Wealth Management LLC. bought a new stake in Norbord during the second quarter valued at $208,000. Aigen Investment Management LP increased its stake in Norbord by 130.7% during the second quarter. Aigen Investment Management LP now owns 9,770 shares of the construction company’s stock valued at $223,000 after purchasing an additional 5,535 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Norbord during the first quarter worth $189,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Norbord by 387.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 20,346 shares of the construction company’s stock worth $241,000 after buying an additional 16,170 shares during the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Norbord from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research report on Friday, August 7th. ValuEngine downgraded Norbord from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Scotiabank raised their target price on Norbord from $49.50 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. CIBC boosted their price target on shares of Norbord from $50.00 to $58.00 in a report on Tuesday, August 25th. Finally, BofA Securities cut shares of Norbord from a “buy” rating to a “neutral” rating in a report on Friday, September 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.25.
Shares of OSB opened at $31.27 on Friday. Norbord Inc. has a one year low of $8.92 and a one year high of $36.53. The stock’s fifty day moving average is $31.72 and its 200-day moving average is $24.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 1.91. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 260.61, a price-to-earnings-growth ratio of 0.20 and a beta of 2.59.
Norbord (NYSE:OSB) last announced its earnings results on Wednesday, August 5th. The construction company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.28. Norbord had a net margin of 0.53% and a return on equity of 4.64%. The firm had revenue of $421.00 million during the quarter, compared to analyst estimates of $410.76 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. Norbord’s revenue was down 5.8% compared to the same quarter last year. Analysts forecast that Norbord Inc. will post 4.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Tuesday, September 1st were paid a dividend of $0.2251 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, August 31st. This is a positive change from Norbord’s previous quarterly dividend of $0.04. Norbord’s dividend payout ratio (DPR) is currently -248.65%.
Norbord Company Profile
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, moldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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