Norbord Inc. (OSB) Hits New 52-Week High at $35.74
Norbord Inc. (NYSE:OSB) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $35.74 and last traded at $35.77, with a volume of 28,594 shares changing hands. The stock had previously closed at $34.92.
A number of analysts have commented on OSB shares. Zacks Investment Research upgraded shares of Norbord from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research report on Friday, June 30th. Scotiabank restated a “buy” rating and set a $44.25 price target on shares of Norbord in a research report on Tuesday, August 29th. Credit Suisse Group upgraded shares of Norbord from a “neutral” rating to an “outperform” rating in a research report on Monday, July 31st. ValuEngine upgraded shares of Norbord from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Finally, Vertical Research downgraded shares of Norbord from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $36.85.
The company has a 50 day moving average price of $33.65 and a 200-day moving average price of $30.62. The company has a market cap of $3.26 billion, a P/E ratio of 12.44 and a beta of 3.99.
Norbord (NYSE:OSB) last issued its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.01. Norbord had a return on equity of 37.87% and a net margin of 13.52%. The company had revenue of $536 million for the quarter. Analysts anticipate that Norbord Inc. will post $3.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 1st will be issued a dividend of $0.398 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.59 dividend on an annualized basis and a yield of 4.21%. This is a positive change from Norbord’s previous quarterly dividend of $0.22. Norbord’s dividend payout ratio is currently 52.30%.
Large investors have recently modified their holdings of the business. Legal & General Group Plc grew its holdings in Norbord by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 4,889 shares of the construction company’s stock worth $152,000 after acquiring an additional 198 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Norbord during the 1st quarter worth about $204,000. Parametric Portfolio Associates LLC bought a new stake in Norbord during the 2nd quarter worth about $205,000. Comerica Bank bought a new stake in Norbord during the 2nd quarter worth about $233,000. Finally, Dimensional Fund Advisors LP bought a new stake in Norbord during the 2nd quarter worth about $260,000. 80.86% of the stock is currently owned by hedge funds and other institutional investors.
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Norbord Company Profile
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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