Russell Investments Group Ltd. lowered its stake in shares of Norbord Inc (NYSE:OSB) by 47.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,852 shares of the construction company’s stock after selling 103,955 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Norbord worth $4,633,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Norbord by 5.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,727,194 shares of the construction company’s stock worth $112,077,000 after acquiring an additional 146,300 shares during the period. Acadian Asset Management LLC increased its position 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 during the period. Royal Bank of Canada increased its position in shares of Norbord by 14.2% during the first quarter. Royal Bank of Canada now owns 1,952,515 shares of the construction company’s stock worth $70,935,000 after acquiring an additional 243,274 shares during the period. TD Asset Management Inc. increased its position 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 during the period. Finally, Hillsdale Investment Management Inc. increased its position in shares of Norbord by 61.5% during the first quarter. Hillsdale Investment Management Inc. now owns 740,148 shares of the construction company’s stock worth $26,831,000 after acquiring an additional 281,800 shares during the period. 76.86% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the company. ValuEngine raised Norbord from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised Norbord from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a report on Saturday, July 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Norbord presently has an average rating of “Hold” and a consensus target price of $42.29.
NYSE:OSB opened at $40.09 on Friday. The firm has a market capitalization of $3.64 billion, a P/E ratio of 7.22, a price-to-earnings-growth ratio of 1.23 and a beta of 2.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.69. Norbord Inc has a 12 month low of $32.22 and a 12 month high of $45.45.
Norbord (NYSE:OSB) last posted its earnings results on Thursday, August 2nd. The construction company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.61 by $0.31. The firm had revenue of $707.00 million for the quarter, compared to analyst estimates of $682.27 million. Norbord had a return on equity of 48.17% and a net margin of 22.75%. Norbord’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.10 earnings per share. analysts predict that Norbord Inc will post 5.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Saturday, September 1st will be issued a $3.459 dividend. This represents a $13.84 annualized dividend and a yield of 34.51%. The ex-dividend date of this dividend is Thursday, August 30th. This is a positive change from Norbord’s previous quarterly dividend of $0.47. Norbord’s dividend payout ratio is 306.68%.
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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