Meritage Portfolio Management grew its holdings in Norbord Inc (NYSE:OSB) by 69.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,168 shares of the construction company’s stock after purchasing an additional 35,700 shares during the period. Meritage Portfolio Management owned approximately 0.10% of Norbord worth $2,891,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Norbord by 5.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,727,194 shares of the construction company’s stock valued at $112,077,000 after purchasing an additional 146,300 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Norbord by 24.4% during the second quarter. Acadian Asset Management LLC now owns 2,337,800 shares of the construction company’s stock worth $96,071,000 after acquiring an additional 459,177 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Norbord by 62.8% during the second quarter. TD Asset Management Inc. now owns 931,503 shares of the construction company’s stock worth $38,281,000 after acquiring an additional 359,456 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Norbord by 22.3% during the second quarter. Schroder Investment Management Group now owns 681,144 shares of the construction company’s stock worth $36,563,000 after acquiring an additional 124,217 shares in the last quarter. Finally, Robotti Robert raised its holdings in shares of Norbord by 35.8% during the second quarter. Robotti Robert now owns 591,096 shares of the construction company’s stock worth $24,306,000 after acquiring an additional 155,779 shares in the last quarter. Institutional investors own 76.91% of the company’s stock.
Shares of NYSE:OSB opened at $27.67 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.69 and a debt-to-equity ratio of 0.46. Norbord Inc has a 1 year low of $24.29 and a 1 year high of $45.45. The firm has a market cap of $2.14 billion, a P/E ratio of 6.16, a PEG ratio of 0.90 and a beta of 2.40.
Norbord (NYSE:OSB) last posted its earnings results on Thursday, November 1st. The construction company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.34. Norbord had a return on equity of 48.17% and a net margin of 22.75%. The company had revenue of $640.00 million for the quarter, compared to analyst estimates of $586.42 million. During the same period last year, the company earned $1.50 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Analysts anticipate that Norbord Inc will post 4.2 earnings per share for the current year.
Several analysts recently issued reports on OSB shares. Zacks Investment Research lowered Norbord from a “hold” rating to a “strong sell” rating in a report on Saturday, October 6th. ValuEngine lowered Norbord from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Vertical Research upgraded Norbord from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. BMO Capital Markets upgraded Norbord from an “underperform” rating to a “market perform” rating and set a $26.00 price objective for the company in a report on Monday, October 22nd. Finally, Seaport Global Securities started coverage on Norbord in a report on Tuesday, October 23rd. They set a “buy” rating and a $32.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Norbord has an average rating of “Hold” and a consensus price target of $40.13.
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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