Canada Pension Plan Investment Board Has $9.55 Million Holdings in Norbord Inc (OSB)
Canada Pension Plan Investment Board raised its stake in shares of Norbord Inc (NYSE:OSB) by 39.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 232,336 shares of the construction company’s stock after purchasing an additional 65,900 shares during the period. Canada Pension Plan Investment Board’s holdings in Norbord were worth $9,548,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Norbord by 4.3% in the fourth quarter. BlackRock Inc. now owns 38,096 shares of the construction company’s stock worth $1,288,000 after purchasing an additional 1,588 shares during the last quarter. Swiss National Bank grew its holdings in Norbord by 6.0% in the first quarter. Swiss National Bank now owns 77,428 shares of the construction company’s stock worth $2,804,000 after purchasing an additional 4,400 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Norbord by 54.1% in the first quarter. Neuberger Berman Group LLC now owns 10,482 shares of the construction company’s stock worth $380,000 after purchasing an additional 3,682 shares during the last quarter. Intact Investment Management Inc. grew its holdings in shares of Norbord by 16.9% during the first quarter. Intact Investment Management Inc. now owns 399,600 shares of the construction company’s stock valued at $18,593,000 after buying an additional 57,800 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Norbord by 279.7% during the first quarter. Toronto Dominion Bank now owns 182,938 shares of the construction company’s stock valued at $6,624,000 after buying an additional 134,758 shares during the last quarter. Institutional investors own 76.83% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Norbord from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, May 9th. Buckingham Research boosted their price objective on shares of Norbord to $36.00 and gave the company a “neutral” rating in a report on Monday, May 7th. Credit Suisse Group reissued a “neutral” rating on shares of Norbord in a report on Wednesday, May 2nd. ValuEngine lowered shares of Norbord from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Finally, Bank of America boosted their price objective on shares of Norbord from $34.00 to $35.00 and gave the company an “underperform” rating in a report on Friday, May 4th. Three analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Norbord presently has a consensus rating of “Hold” and a consensus target price of $42.29.
Norbord (NYSE:OSB) last announced its quarterly earnings data on Thursday, August 2nd. The construction company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.31. The firm had revenue of $707.00 million for the quarter, compared to analyst estimates of $682.27 million. Norbord had a net margin of 22.75% and a return on equity of 48.17%. The business’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 earnings per share. sell-side analysts anticipate that Norbord Inc will post 5.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Saturday, September 1st will be issued a dividend of $3.459 per share. The ex-dividend date of this dividend is Thursday, August 30th. This is a positive change from Norbord’s previous quarterly dividend of $0.47. This represents a $13.84 dividend on an annualized basis and a dividend yield of 31.79%. Norbord’s payout ratio is 41.20%.
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.
Read More: Diversification Important in Investing
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.