Axa bought a new stake in Norbord Inc (NYSE:OSB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,400 shares of the construction company’s stock, valued at approximately $677,000.

Several other large investors have also recently modified their holdings of the company. Highstreet Asset Management Inc. grew its stake in Norbord by 2,025.7% during the second quarter. Highstreet Asset Management Inc. now owns 4,294 shares of the construction company’s stock worth $177,000 after buying an additional 4,092 shares during the period. Intercontinental Wealth Advisors LLC grew its stake in Norbord by 38.5% during the third quarter. Intercontinental Wealth Advisors LLC now owns 9,810 shares of the construction company’s stock worth $325,000 after buying an additional 2,728 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in Norbord during the second quarter worth approximately $264,000. Tower Research Capital LLC TRC grew its stake in Norbord by 128.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,324 shares of the construction company’s stock worth $466,000 after buying an additional 6,372 shares during the period. Finally, Voya Investment Management LLC grew its stake in Norbord by 34.9% during the second quarter. Voya Investment Management LLC now owns 12,964 shares of the construction company’s stock worth $533,000 after buying an additional 3,353 shares during the period. 77.61% of the stock is currently owned by institutional investors and hedge funds.

OSB has been the subject of several research reports. Bank of America upgraded shares of Norbord from an “underperform” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Monday, November 5th. They noted that the move was a valuation call. TD Securities upgraded shares of Norbord from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $31.00 to $33.00 in a research note on Friday, November 2nd. Seaport Global Securities initiated coverage on shares of Norbord in a research note on Tuesday, October 23rd. They set a “buy” rating and a $32.00 price objective for the company. Vertical Research upgraded shares of Norbord from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, ValuEngine upgraded shares of Norbord from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $37.14.

Shares of OSB stock opened at $26.49 on Friday. The firm has a market capitalization of $2.31 billion, a PE ratio of 5.90, a PEG ratio of 1.04 and a beta of 2.68. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 0.53. Norbord Inc has a twelve month low of $24.29 and a twelve month high of $45.45.

Norbord (NYSE:OSB) last announced its earnings results on Thursday, November 1st. The construction company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.34. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $586.42 million. Norbord had a net margin of 22.19% and a return on equity of 46.76%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. On average, research analysts predict that Norbord Inc will post 4.26 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Saturday, December 1st will be paid a $0.456 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.82 annualized dividend and a dividend yield of 6.89%. Norbord’s dividend payout ratio (DPR) is presently 40.31%.

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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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Institutional Ownership by Quarter for Norbord (NYSE:OSB)

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