TD Asset Management Inc. Has $22.22 Million Stake in Norbord Inc (OSB)
TD Asset Management Inc. raised its holdings in shares of Norbord Inc (NYSE:OSB) by 21.1% during the 1st quarter, Holdings Channel reports. The fund owned 806,301 shares of the construction company’s stock after acquiring an additional 140,535 shares during the quarter. TD Asset Management Inc.’s holdings in Norbord were worth $22,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of OSB. CIBC Asset Management Inc increased its stake in Norbord by 30.7% during the 1st quarter. CIBC Asset Management Inc now owns 37,093 shares of the construction company’s stock valued at $1,022,000 after purchasing an additional 8,708 shares in the last quarter. Renaissance Group LLC increased its stake in Norbord by 3.0% during the 1st quarter. Renaissance Group LLC now owns 23,301 shares of the construction company’s stock valued at $642,000 after purchasing an additional 689 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new position in Norbord during the 1st quarter valued at approximately $71,000. Cozad Asset Management Inc. increased its stake in Norbord by 3.0% during the 1st quarter. Cozad Asset Management Inc. now owns 39,005 shares of the construction company’s stock valued at $1,075,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in Norbord during the 1st quarter valued at approximately $45,000. Institutional investors and hedge funds own 79.89% of the company’s stock.
A number of analysts have recently weighed in on the stock. ValuEngine lowered shares of Norbord from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. Zacks Investment Research lowered shares of Norbord from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. CIBC upgraded shares of Norbord from a “sector underperform” rating to a “neutral” rating in a research note on Tuesday, May 7th. Royal Bank of Canada lowered shares of Norbord from a “top pick” rating to an “outperform” rating in a research note on Monday, February 4th. Finally, TD Securities increased their price objective on shares of Norbord from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $35.33.
Norbord (NYSE:OSB) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.06). The business had revenue of $476.00 million during the quarter, compared to analyst estimates of $462.00 million. Norbord had a return on equity of 32.42% and a net margin of 11.92%. Research analysts predict that Norbord Inc will post 1.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Saturday, June 1st will be given a dividend of $0.299 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 annualized dividend and a yield of 5.67%. Norbord’s dividend payout ratio is presently 25.64%.
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.
See Also: What does EPS mean?
Want to see what other hedge funds are holding OSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norbord Inc (NYSE:OSB).
Receive News & Ratings for Norbord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norbord and related companies with MarketBeat.com's FREE daily email newsletter.