Two Sigma Investments LP trimmed its position in Norbord Inc (NYSE:OSB) by 81.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,383 shares of the construction company’s stock after selling 72,002 shares during the period. Two Sigma Investments LP’s holdings in Norbord were worth $194,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in OSB. Credit Suisse AG lifted its stake in shares of Norbord by 567.9% in the 4th quarter. Credit Suisse AG now owns 297,543 shares of the construction company’s stock worth $7,954,000 after acquiring an additional 252,992 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Norbord by 6,822.0% during the fourth quarter. Bank of New York Mellon Corp now owns 910,863 shares of the construction company’s stock worth $24,347,000 after acquiring an additional 897,704 shares during the period. Goldman Sachs Group Inc. raised its holdings in Norbord by 244.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 99,895 shares of the construction company’s stock worth $2,670,000 after purchasing an additional 70,878 shares in the last quarter. Deutsche Bank AG lifted its position in Norbord by 191.1% in the first quarter. Deutsche Bank AG now owns 153,134 shares of the construction company’s stock valued at $1,813,000 after purchasing an additional 100,522 shares during the period. Finally, BlackRock Inc. boosted its holdings in Norbord by 5.6% in the 1st quarter. BlackRock Inc. now owns 20,764 shares of the construction company’s stock valued at $246,000 after purchasing an additional 1,093 shares in the last quarter. 82.11% of the stock is currently owned by institutional investors.
Shares of NYSE OSB opened at $22.09 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $19.75 and its 200 day moving average price is $21.89. Norbord Inc has a 52 week low of $8.92 and a 52 week high of $33.70. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -81.81 and a beta of 2.51.
The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 1st were issued a dividend of $0.036 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Friday, May 29th. Norbord’s dividend payout ratio (DPR) is presently -40.54%.
Several analysts have recently commented on OSB shares. ValuEngine raised Norbord from a “hold” rating to a “buy” rating in a report on Friday, May 1st. CIBC raised their target price on Norbord from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Zacks Investment Research upgraded shares of Norbord from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, June 10th. TD Securities lowered shares of Norbord from an “action list buy” rating to a “buy” rating and upped their target price for the stock from $20.00 to $22.00 in a research report on Thursday, May 7th. Finally, Credit Suisse Group downgraded shares of Norbord from a “neutral” rating to an “underperform” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Norbord currently has an average rating of “Buy” and a consensus target price of $37.83.
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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