Norbord (OSB) Upgraded to Hold at ValuEngine
ValuEngine upgraded shares of Norbord (NYSE:OSB) from a sell rating to a hold rating in a report issued on Thursday.
Separately, Zacks Investment Research raised shares of Norbord from a hold rating to a strong-buy rating and set a $44.00 price objective for the company in a report on Saturday, July 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $42.29.
Shares of OSB opened at $39.98 on Thursday. Norbord has a 12 month low of $32.22 and a 12 month high of $45.45. The firm has a market cap of $3.64 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.23 and a beta of 2.30. The company has a current ratio of 2.69, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Saturday, September 1st will be issued a dividend of $3.459 per share. This is an increase from Norbord’s previous quarterly dividend of $0.47. This represents a $13.84 annualized dividend and a dividend yield of 34.61%. The ex-dividend date of this dividend is Thursday, August 30th. Norbord’s dividend payout ratio is currently 306.68%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in shares of Norbord by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 410,600 shares of the construction company’s stock worth $16,884,000 after buying an additional 1,400 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Norbord by 18.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,747 shares of the construction company’s stock valued at $390,000 after purchasing an additional 1,654 shares during the period. AMP Capital Investors Ltd boosted its holdings in Norbord by 8.0% in the 2nd quarter. AMP Capital Investors Ltd now owns 28,254 shares of the construction company’s stock valued at $1,161,000 after purchasing an additional 2,100 shares during the period. Institute for Wealth Management LLC. boosted its holdings in Norbord by 32.4% in the 2nd quarter. Institute for Wealth Management LLC. now owns 13,706 shares of the construction company’s stock valued at $551,000 after purchasing an additional 3,352 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in Norbord by 34.9% in the 2nd quarter. Voya Investment Management LLC now owns 12,964 shares of the construction company’s stock valued at $533,000 after purchasing an additional 3,353 shares during the period. 76.86% of the stock is owned by institutional investors and hedge funds.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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