DekaBank Deutsche Girozentrale Buys Shares of 48,756 Norbord Inc. (OSB)
DekaBank Deutsche Girozentrale bought a new stake in Norbord Inc. (NYSE:OSB) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 48,756 shares of the construction company’s stock, valued at approximately $1,505,000. DekaBank Deutsche Girozentrale owned 0.06% of Norbord as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new stake in Norbord during the first quarter valued at approximately $204,000. Highbridge Capital Management LLC bought a new stake in Norbord during the first quarter valued at approximately $287,000. State of Wisconsin Investment Board bought a new stake in Norbord during the first quarter valued at approximately $409,000. Renaissance Group LLC raised its stake in 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. Finally, Advisors Asset Management Inc. raised its stake in 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. 28.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Norbord Inc. (NYSE OSB) opened at 32.45 on Tuesday. Norbord Inc. has a one year low of $21.40 and a one year high of $35.65. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 10.67 and a beta of 3.95. The firm has a 50-day moving average price of $32.77 and a 200 day moving average price of $30.06.
Norbord (NYSE:OSB) last posted its quarterly earnings data on Friday, July 28th. The construction company reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The company had revenue of $536 million for the quarter. Norbord had a net margin of 13.52% and a return on equity of 37.87%. Equities analysts forecast that Norbord Inc. will post $3.74 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 paid a dividend of $0.398 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Norbord’s previous quarterly dividend of $0.22. This represents a $1.59 annualized dividend and a yield of 4.91%. Norbord’s dividend payout ratio is currently 28.95%.
OSB has been the topic of several analyst reports. TD Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of Norbord in a report on Wednesday, May 3rd. BMO Capital Markets set a $28.00 target price on Norbord and gave the stock a “hold” rating in a report on Friday, July 28th. Zacks Investment Research lowered Norbord from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Credit Suisse Group raised Norbord from a “neutral” rating to an “outperform” rating in a report on Monday, July 31st. Finally, ValuEngine raised Norbord from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $35.00.
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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