Fmr LLC Has $173.61 Million Position in Norbord Inc. (OSB)
Fmr LLC increased its position in shares of Norbord Inc. (NYSE:OSB) by 6.4% during the first quarter, Holdings Channel reports. The institutional investor owned 6,099,810 shares of the construction company’s stock after buying an additional 365,927 shares during the period. Fmr LLC owned approximately 7.11% of Norbord worth $173,612,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Norbord during the fourth quarter worth about $147,000. Renaissance Technologies LLC raised its stake in Norbord by 287.3% in the fourth quarter. Renaissance Technologies LLC now owns 51,900 shares of the construction company’s stock worth $1,310,000 after buying an additional 38,500 shares in the last quarter. Two Sigma Investments LP raised its stake in Norbord by 64.7% in the fourth quarter. Two Sigma Investments LP now owns 343,888 shares of the construction company’s stock worth $8,678,000 after buying an additional 135,100 shares in the last quarter. Guggenheim Capital LLC raised its stake in Norbord by 6.6% in the fourth quarter. Guggenheim Capital LLC now owns 42,700 shares of the construction company’s stock worth $1,080,000 after buying an additional 2,645 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Norbord during the fourth quarter worth about $2,321,000. 28.19% of the stock is currently owned by institutional investors.
Shares of Norbord Inc. (NYSE OSB) traded down 2.23% during midday trading on Tuesday, hitting $29.75. The stock had a trading volume of 1,485 shares. The stock has a 50 day moving average of $29.15 and a 200-day moving average of $27.99. The company has a market cap of $2.56 billion, a P/E ratio of 12.25 and a beta of 4.05. Norbord Inc. has a one year low of $18.62 and a one year high of $31.29.
Norbord (NYSE:OSB) last announced its quarterly earnings data on Tuesday, May 2nd. The construction company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Norbord had a net margin of 11.30% and a return on equity of 32.88%. The firm had revenue of $467 million for the quarter. Analysts forecast that Norbord Inc. will post $3.30 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.2201 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.88 annualized dividend and a yield of 2.89%. This is a boost from Norbord’s previous quarterly dividend of $0.08. Norbord’s dividend payout ratio is presently 36.21%.
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OSB has been the topic of several research analyst reports. BMO Capital Markets reissued a “hold” rating and set a $28.00 target price on shares of Norbord in a research report on Wednesday, April 19th. TD Securities reissued a “buy” rating and set a $35.00 target price on shares of Norbord in a research report on Wednesday, May 3rd. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $32.25.
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