Schroder Investment Management Group boosted its holdings in Norbord Inc (NYSE:OSB) by 22.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 681,144 shares of the construction company’s stock after purchasing an additional 124,217 shares during the period. Schroder Investment Management Group owned about 0.79% of Norbord worth $36,563,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 during the last quarter. Acadian Asset Management LLC lifted its holdings in Norbord by 24.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,337,800 shares of the construction company’s stock worth $96,071,000 after buying an additional 459,177 shares during the last quarter. Royal Bank of Canada lifted its holdings in Norbord by 14.2% during the 1st quarter. Royal Bank of Canada now owns 1,952,515 shares of the construction company’s stock worth $70,935,000 after buying an additional 243,274 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Norbord by 62.8% during the 2nd quarter. TD Asset Management Inc. now owns 931,503 shares of the construction company’s stock worth $38,281,000 after buying an additional 359,456 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in Norbord by 61.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 740,148 shares of the construction company’s stock worth $26,831,000 after buying an additional 281,800 shares during the last quarter. 76.86% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on OSB shares. ValuEngine raised Norbord from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Zacks Investment Research downgraded Norbord from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.29.
NYSE:OSB opened at $35.16 on Friday. 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 52 week low of $32.22 and a 52 week high of $45.45. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 1.02 and a beta of 2.30.
Norbord (NYSE:OSB) last released its earnings results on Thursday, August 2nd. The construction company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.31. Norbord had a return on equity of 48.17% and a net margin of 22.75%. The company had revenue of $707.00 million for the quarter, compared to the consensus estimate of $682.27 million. During the same quarter last year, the business posted $1.10 EPS. Norbord’s quarterly revenue was up 31.9% compared to the same quarter last year. research analysts forecast that Norbord Inc will post 5.7 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Saturday, September 1st were issued a $3.459 dividend. This is an increase from Norbord’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, August 30th. This represents a $13.84 annualized dividend and a dividend yield of 39.35%. Norbord’s dividend payout ratio (DPR) is 306.68%.
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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