Other research analysts have also recently issued reports about the stock. TD Securities reissued a buy rating and set a $35.00 price target on shares of Norbord in a research report on Wednesday, May 3rd. Zacks Investment Research cut shares of Norbord from a strong-buy rating to a hold rating in a research report on Wednesday, July 12th. Finally, ValuEngine raised shares of Norbord from a buy rating to a strong-buy rating in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $35.00.
Shares of Norbord (OSB) opened at 33.01 on Friday. Norbord has a 52-week low of $21.40 and a 52-week high of $35.65. The company’s 50-day moving average price is $32.27 and its 200-day moving average price is $29.60. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 10.86 and a beta of 3.95.
Norbord (NYSE:OSB) last issued its quarterly earnings results on Friday, July 28th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by $0.01. Norbord had a net margin of 13.52% and a return on equity of 37.87%. The business had revenue of $536 million for the quarter. Equities research analysts forecast that Norbord will post $3.74 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 1st will be issued a $0.398 dividend. The ex-dividend date is Wednesday, August 30th. This is a boost from Norbord’s previous quarterly dividend of $0.22. This represents a $1.59 annualized dividend and a yield of 4.82%. Norbord’s payout ratio is 28.95%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of Norbord by 229.0% in the second quarter. Acadian Asset Management LLC now owns 804,725 shares of the construction company’s stock valued at $25,012,000 after buying an additional 560,125 shares during the period. Renaissance Group LLC boosted its position in shares of Norbord by 3.0% in the first quarter. Renaissance Group LLC now owns 14,483 shares of the construction company’s stock valued at $413,000 after buying an additional 417 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Norbord by 30,696.1% in the first quarter. JPMorgan Chase & Co. now owns 23,713 shares of the construction company’s stock valued at $676,000 after buying an additional 23,636 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Norbord by 86.5% in the first quarter. Advisors Asset Management Inc. now owns 15,782 shares of the construction company’s stock valued at $446,000 after buying an additional 7,319 shares during the period. Finally, AQR Capital Management LLC purchased a new position in shares of Norbord during the first quarter valued at about $969,000. 28.52% of the stock is owned by institutional investors and hedge funds.
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial customers 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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