Norbord Inc (NYSE:OSB) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $24.18 and last traded at $24.63, with a volume of 19942 shares. The stock had previously closed at $25.29.
OSB has been the topic of several recent research reports. Zacks Investment Research lowered Norbord from a “hold” rating to a “strong sell” rating in a report on Saturday, October 6th. ValuEngine lowered Norbord from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Vertical Research upgraded Norbord from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Bank of America upgraded Norbord from an “underperform” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Monday, November 5th. They noted that the move was a valuation call. Finally, BMO Capital Markets upgraded Norbord from an “underperform” rating to a “market perform” rating and set a $26.00 price target on the stock in a report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $37.14.
The firm has a market capitalization of $2.14 billion, a PE ratio of 5.65, a P/E/G ratio of 0.96 and a beta of 2.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.00 and a quick ratio of 1.27.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Saturday, December 1st will be issued a $0.456 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 7.19%. Norbord’s dividend payout ratio is presently 40.31%.
Several hedge funds have recently bought and sold shares of the company. Raymond James & Associates increased its position in shares of Norbord by 12.9% during the second quarter. Raymond James & Associates now owns 36,062 shares of the construction company’s stock valued at $1,483,000 after acquiring an additional 4,118 shares during the last quarter. Schroder Investment Management Group increased its position in Norbord by 22.3% in the second quarter. Schroder Investment Management Group now owns 681,144 shares of the construction company’s stock worth $36,563,000 after buying an additional 124,217 shares during the last quarter. BlackRock Inc. increased its position in Norbord by 27.0% in the second quarter. BlackRock Inc. now owns 53,621 shares of the construction company’s stock worth $2,205,000 after buying an additional 11,391 shares during the last quarter. Highstreet Asset Management Inc. increased its position in Norbord by 2,025.7% in the second quarter. Highstreet Asset Management Inc. now owns 4,294 shares of the construction company’s stock worth $177,000 after buying an additional 4,092 shares during the last quarter. Finally, KAMES CAPITAL plc purchased a new stake in Norbord in the third quarter worth $705,000. Institutional investors own 77.61% of the company’s stock.
About Norbord (NYSE:OSB)
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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