O Shaughnessy Asset Management LLC boosted its stake in Norbord Inc (NYSE:OSB) by 53.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 710,365 shares of the construction company’s stock after purchasing an additional 248,742 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.82% of Norbord worth $23,295,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James & Associates boosted its stake in Norbord by 12.9% in the 2nd quarter. Raymond James & Associates now owns 36,062 shares of the construction company’s stock worth $1,483,000 after purchasing an additional 4,118 shares during the period. Schroder Investment Management Group boosted its stake in Norbord by 22.3% in the 2nd quarter. Schroder Investment Management Group now owns 681,144 shares of the construction company’s stock worth $36,563,000 after purchasing an additional 124,217 shares during the period. BlackRock Inc. boosted its stake in Norbord by 10.9% in the 1st quarter. BlackRock Inc. now owns 42,230 shares of the construction company’s stock worth $1,534,000 after purchasing an additional 4,134 shares during the period. Highstreet Asset Management Inc. boosted its stake in Norbord by 2,025.7% in the 2nd quarter. Highstreet Asset Management Inc. now owns 4,294 shares of the construction company’s stock worth $177,000 after purchasing an additional 4,092 shares during the period. Finally, KAMES CAPITAL plc bought a new position in Norbord in the 3rd quarter worth about $705,000. Institutional investors and hedge funds own 76.48% of the company’s stock.
OSB has been the subject of several analyst reports. Zacks Investment Research downgraded Norbord from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 6th. ValuEngine cut Norbord from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Vertical Research raised Norbord from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. BMO Capital Markets raised Norbord from an “underperform” rating to a “market perform” rating and set a $26.00 price target on the stock in a report on Monday, October 22nd. Finally, Seaport Global Securities assumed coverage on Norbord in a report on Tuesday, October 23rd. They issued a “buy” rating and a $32.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Norbord presently has a consensus rating of “Hold” and an average price target of $39.38.
NYSE:OSB opened at $26.80 on Friday. Norbord Inc has a twelve month low of $24.29 and a twelve month high of $45.45. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 5.97, a price-to-earnings-growth ratio of 1.08 and a beta of 2.65. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.27 and a current ratio of 2.00.
Norbord (NYSE:OSB) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.34. Norbord had a return on equity of 46.76% and a net margin of 22.19%. The firm had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $586.42 million. During the same quarter last year, the firm posted $1.50 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, research analysts expect that Norbord Inc will post 4.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Saturday, December 1st will be issued a $0.456 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.82 annualized dividend and a dividend yield of 6.81%. Norbord’s payout ratio is currently 306.68%.
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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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