Norbord Inc. (TSE:OSB) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$53.85 and last traded at C$53.28, with a volume of 69135 shares trading hands. The stock had previously closed at C$52.96.
OSB has been the topic of a number of research analyst reports. CIBC increased their target price on Norbord from C$50.00 to C$53.00 in a report on Tuesday, April 17th. Raymond James increased their target price on Norbord from C$65.00 to C$66.00 in a report on Tuesday, April 10th. CSFB downgraded Norbord from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 1st. Scotiabank increased their target price on Norbord from C$55.00 to C$55.50 and gave the stock an “outperform” rating in a report on Friday, May 4th. Finally, BMO Capital Markets set a C$32.00 target price on Norbord and gave the stock an “underperform” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$52.31.
Norbord (TSE:OSB) last released its earnings results on Thursday, May 3rd. The company reported C$1.39 EPS for the quarter, topping analysts’ consensus estimates of C$1.24 by C$0.15. The company had revenue of C$728.14 million for the quarter. Norbord had a return on equity of 66.95% and a net margin of 26.85%.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Friday, June 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Thursday, May 31st.
In related news, insider Peter Cornelius Wijnbergen sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$45.00, for a total value of C$315,000.00. Also, insider Nigel Banks sold 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of C$47.00, for a total value of C$893,000.00. In the last three months, insiders sold 36,000 shares of company stock worth $1,656,000.
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, mouldings, 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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