Shares of Norbord Inc (NYSE:OSB) have been given a consensus recommendation of “Buy” by the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $34.33.
OSB has been the topic of a number of research reports. CIBC raised Norbord from a “sector underperform” rating to a “neutral” rating in a report on Tuesday, May 7th. TheStreet lowered Norbord from a “b-” rating to a “c+” rating in a report on Tuesday, June 11th. TD Securities decreased their price objective on Norbord from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Zacks Investment Research lowered Norbord from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Finally, BMO Capital Markets raised Norbord from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $26.00 to $28.00 in a report on Friday, June 14th.
NYSE OSB traded up $0.17 on Friday, reaching $22.20. The stock had a trading volume of 5,106 shares, compared to its average volume of 166,059. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.14 and a current ratio of 1.64. The stock’s fifty day moving average is $23.43. Norbord has a 1-year low of $19.46 and a 1-year high of $44.15. The stock has a market capitalization of $1.76 billion, a P/E ratio of 4.71 and a beta of 2.07.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, August 30th will be given a dividend of $0.303 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 5.46%. This is an increase from Norbord’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, August 29th. Norbord’s dividend payout ratio is presently 25.00%.
Large investors have recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. grew its stake in Norbord by 19.2% during the second quarter. Pictet Asset Management Ltd. now owns 859,278 shares of the construction company’s stock worth $21,345,000 after purchasing an additional 138,494 shares during the period. Morgan Stanley boosted its holdings in Norbord by 88.2% in the second quarter. Morgan Stanley now owns 470,698 shares of the construction company’s stock worth $11,669,000 after acquiring an additional 220,611 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Norbord by 84.6% in the second quarter. Mackenzie Financial Corp now owns 372,375 shares of the construction company’s stock worth $9,231,000 after acquiring an additional 170,632 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Norbord by 3.5% in the second quarter. Vanguard Group Inc. now owns 1,377,699 shares of the construction company’s stock worth $34,153,000 after acquiring an additional 46,450 shares in the last quarter. Finally, Weiss Asset Management LP boosted its holdings in Norbord by 30.1% in the second quarter. Weiss Asset Management LP now owns 11,537 shares of the construction company’s stock worth $286,000 after acquiring an additional 2,667 shares in the last quarter. Hedge funds and other institutional investors own 78.60% of the company’s stock.
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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